First Citizens BancShares, Inc. $FCNCA Shares Acquired by Gator Capital Management LLC

Key Points

• Gator Capital Management LLC increased its holdings in First Citizens BancShares by 2.8%, making it the fund's second largest position, with approximately $16.58 million in shares.
• Several large investors have recently made investments in First Citizens BancShares, with institutional ownership currently at 78.01%.
• First Citizens BancShares is set to pay a **quarterly dividend** of $1.95 per share on September 15th, reflecting a 0.4% yield and a payout ratio of 4.60%.

Gator Capital Management LLC lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,943 shares of the bank's stock after purchasing an additional 240 shares during the quarter. First Citizens BancShares accounts for about 6.3% of Gator Capital Management LLC's portfolio, making the stock its 2nd biggest position. Gator Capital Management LLC owned about 0.07% of First Citizens BancShares worth $16,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in First Citizens BancShares in the 1st quarter valued at approximately $2,642,000. Bank of New York Mellon Corp raised its position in First Citizens BancShares by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank's stock valued at $75,190,000 after buying an additional 772 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in First Citizens BancShares by 16.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank's stock valued at $352,000 after buying an additional 27 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in First Citizens BancShares in the 1st quarter valued at approximately $439,000. Finally, DAVENPORT & Co LLC acquired a new stake in First Citizens BancShares in the 1st quarter valued at approximately $221,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of FCNCA stock traded down $29.30 on Tuesday, hitting $1,901.42. 182,493 shares of the company's stock were exchanged, compared to its average volume of 91,113. 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 stock has a market cap of $24.57 billion, a P/E ratio of 11.22 and a beta of 0.64. The company has a 50 day moving average of $1,974.89 and a 200 day moving average of $1,907.74.

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

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be 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 is Friday, August 29th. First Citizens BancShares's payout ratio is presently 4.60%.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 600 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the acquisition, the chief executive officer directly owned 32,300 shares of the company's stock, valued at $54,869,625. The trade was a 1.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hope Holding Bryant purchased 409 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the purchase, the insider owned 1,764 shares of the company's stock, valued at approximately $2,875,320. This trade represents a 30.18% 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. 13.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the stock a "neutral" rating in a research report on Monday, July 28th. Citigroup boosted their price target on 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. Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, UBS Group reaffirmed a "buy" rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 9th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently 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.