Militia Capital Partners LP Has $556,000 Stake in First Citizens BancShares, Inc. $FCNCA

Key Points

• Militia Capital Partners LP increased its ownership in First Citizens BancShares by 200%, acquiring 300 shares valued at approximately $556,000 as of the end of the last quarter.
• First Citizens BancShares reported an earnings per share (EPS) of $44.78 for the latest quarter, surpassing analysts' estimates of $39.08 by $5.70.
• The company has a quarterly dividend scheduled for September 15th, with a payout of $1.95 per share, resulting in an annualized yield of 0.4%.

Militia Capital Partners LP grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 200.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300 shares of the bank's stock after purchasing an additional 200 shares during the period. Militia Capital Partners LP's holdings in First Citizens BancShares were worth $556,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FCNCA. JT Stratford LLC grew its position in shares of First Citizens BancShares by 0.4% in the fourth quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock valued at $2,635,000 after purchasing an additional 5 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after buying an additional 6 shares during the period. Cresset Asset Management LLC boosted its stake in First Citizens BancShares by 3.8% in the 1st quarter. Cresset Asset Management LLC now owns 163 shares of the bank's stock valued at $302,000 after buying an additional 6 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of First Citizens BancShares by 1.3% during the first quarter. M&T Bank Corp now owns 632 shares of the bank's stock valued at $1,172,000 after acquiring an additional 8 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of First Citizens BancShares by 3.8% in the 1st quarter. Venturi Wealth Management LLC now owns 221 shares of the bank's stock worth $410,000 after purchasing an additional 8 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Hope Holding Bryant bought 409 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares of the company's stock, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank B. Holding, Jr. purchased 600 shares of the company's stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $1,698.75 per share, for a total transaction of $1,019,250.00. Following the completion of the purchase, the chief executive officer owned 32,300 shares of the company's stock, valued at approximately $54,869,625. This trade represents a 1.89% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,494 shares of company stock valued at $2,485,986 in the last ninety days. 13.19% of the stock is currently owned by insiders.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded up $0.73 during mid-day trading on Wednesday, reaching $1,866.53. The company had a trading volume of 123,255 shares, compared to its average volume of 97,050. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The business's 50-day simple moving average is $1,986.53 and its 200 day simple moving average is $1,886.55. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 11.01 and a beta of 0.71.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The firm had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.21 billion. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 29th. First Citizens BancShares's payout ratio is presently 4.60%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research analyst reports. Cowen restated a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup upped their target price on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. UBS Group reissued a "buy" rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a report on Wednesday, July 9th. Finally, Jefferies Financial Group started coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,291.17.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.