Reinhart Partners LLC. Buys 8,478 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Reinhart Partners LLC. increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,459 shares of the bank's stock after acquiring an additional 8,478 shares during the period. First Citizens BancShares comprises approximately 4.5% of Reinhart Partners LLC.'s investment portfolio, making the stock its 2nd largest holding. Reinhart Partners LLC. owned 0.49% of First Citizens BancShares worth $123,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the period. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the period. Yousif Capital Management LLC raised its stake in First Citizens BancShares by 8.7% in the fourth quarter. Yousif Capital Management LLC now owns 188 shares of the bank's stock valued at $397,000 after buying an additional 15 shares during the period. Choreo LLC raised its stake in First Citizens BancShares by 4.7% in the fourth quarter. Choreo LLC now owns 221 shares of the bank's stock valued at $467,000 after buying an additional 10 shares during the period. Finally, Hedeker Wealth LLC raised its stake in First Citizens BancShares by 19.9% in the fourth quarter. Hedeker Wealth LLC now owns 187 shares of the bank's stock valued at $395,000 after buying an additional 31 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded up $29.58 during trading hours on Tuesday, reaching $1,861.30. 72,217 shares of the company were exchanged, compared to its average volume of 87,754. The company has a market capitalization of $24.73 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day moving average of $1,790.78 and a 200 day moving average of $1,973.18.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares's dividend payout ratio is 4.47%.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 13.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FCNCA has been the topic of several research analyst reports. Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Jefferies Financial Group began coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target on the stock. Cowen began coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Barclays lowered their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Finally, TD Cowen began coverage on First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,340.33.

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.