First Citizens BancShares, Inc. $FCNCA Shares Sold by AWH Capital L.P.

Key Points

• AWH Capital L.P. reduced its stake in First Citizens BancShares by 13.3%, holding 2,735 shares valued at approximately $5.07 million.
• Insiders of First Citizens BancShares purchased 1,494 shares of the stock over the last quarter, indicating a strong confidence in the company's performance.
• The bank reported earnings of $44.78 per share, surpassing expectations, and announced a quarterly dividend of $1.95 per share with a yield of 0.4%.

AWH Capital L.P. lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,735 shares of the bank's stock after selling 420 shares during the quarter. First Citizens BancShares comprises about 7.4% of AWH Capital L.P.'s holdings, making the stock its 5th biggest holding. AWH Capital L.P.'s holdings in First Citizens BancShares were worth $5,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FCNCA. Tower Research Capital LLC TRC grew its holdings in shares of First Citizens BancShares by 109.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 65 shares of the bank's stock valued at $137,000 after purchasing an additional 34 shares during the period. BNP Paribas Financial Markets lifted its position in First Citizens BancShares by 374.9% in the fourth quarter. BNP Paribas Financial Markets now owns 16,261 shares of the bank's stock valued at $34,360,000 after buying an additional 12,837 shares during the last quarter. Benjamin Edwards Inc. lifted its position in First Citizens BancShares by 8.0% in the fourth quarter. Benjamin Edwards Inc. now owns 391 shares of the bank's stock valued at $826,000 after buying an additional 29 shares during the last quarter. Chapman Financial Group LLC acquired a new position in First Citizens BancShares in the fourth quarter valued at about $317,000. Finally, Castlekeep Investment Advisors LLC acquired a new position in First Citizens BancShares in the fourth quarter valued at about $66,972,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant bought 409 shares of the stock in a transaction dated 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 transaction, the insider owned 1,764 shares in the company, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Olivia Britton Holding bought 409 shares of the stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,494 shares of company stock worth $2,485,986. Insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Down 4.2%

Shares of FCNCA stock traded down $84.85 during trading hours on Friday, reaching $1,925.26. 152,003 shares of the stock were exchanged, compared to its average volume of 138,490. The business's fifty day moving average is $2,003.55 and its two-hundred day moving average is $1,891.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The firm has a market capitalization of $24.87 billion, a P/E ratio of 11.36 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 for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is 4.60%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Cowen assumed coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Cowen reaffirmed a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Citigroup increased their price target 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. Finally, Jefferies Financial Group began coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,291.17.

First Citizens BancShares Profile

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.