Stieven Capital Advisors L.P. Increases Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stieven Capital Advisors L.P. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,507 shares of the bank's stock after purchasing an additional 870 shares during the period. First Citizens BancShares makes up 2.7% of Stieven Capital Advisors L.P.'s holdings, making the stock its 12th biggest holding. Stieven Capital Advisors L.P. owned 0.06% of First Citizens BancShares worth $13,919,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FCNCA. MassMutual Private Wealth & Trust FSB raised its stake in First Citizens BancShares by 54.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after purchasing an additional 6 shares during the period. Community Bank N.A. purchased a new position in First Citizens BancShares during the first quarter worth about $44,000. Wayfinding Financial LLC acquired a new stake in shares of First Citizens BancShares during the first quarter valued at about $64,000. Toth Financial Advisory Corp increased its position in shares of First Citizens BancShares by 263.6% during the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock valued at $74,000 after acquiring an additional 29 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of First Citizens BancShares during the fourth quarter valued at about $77,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

FCNCA stock traded down $14.07 on Friday, hitting $2,117.62. The company's stock had a trading volume of 78,369 shares, compared to its average volume of 89,214. The firm has a 50 day moving average of $1,907.01 and a two-hundred day moving average of $1,940.39. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.95 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.37%. First Citizens BancShares's dividend payout ratio (DPR) is 4.47%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lifted their price target 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. UBS Group reiterated a "buy" rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday. Finally, Cowen initiated coverage on shares of First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,299.50.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer directly owned 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.40% of the stock is currently owned by company insiders.

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.