Stieven Capital Advisors L.P. Sells 899 Shares of First Citizens BancShares, Inc. $FCNCA

Key Points

• Stieven Capital Advisors reduced its stake in First Citizens BancShares by 12% in the fourth quarter, selling 899 shares and leaving it with 6,614 shares valued at about $14.2 million.
• First Citizens BancShares reported quarterly earnings of $44.86 per share, topping analyst estimates, though revenue came in slightly below expectations at $2.14 billion.
• The company declared a quarterly dividend of $2.10 per share and saw its stock trade around $1,991.55, while analysts currently maintain a consensus Hold rating with a price target of $2,215.91.

Stieven Capital Advisors L.P. decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,614 shares of the bank's stock after selling 899 shares during the quarter. First Citizens BancShares comprises about 2.6% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 15th largest holding. Stieven Capital Advisors L.P. owned approximately 0.05% of First Citizens BancShares worth $14,195,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of FCNCA. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares in the 3rd quarter worth about $27,000. UMB Bank n.a. raised its holdings in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank's stock valued at $29,000 after purchasing an additional 8 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of First Citizens BancShares in the 3rd quarter worth approximately $32,000. Harbor Investment Advisory LLC lifted its position in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after purchasing an additional 9 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank's stock valued at $34,000 after purchasing an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analysts Set New Price Targets

FCNCA has been the topic of a number of recent research reports. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. Zacks Research upgraded shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,154.00 price objective on the stock. in a research note on Wednesday, April 8th. Finally, Weiss Ratings downgraded shares of First Citizens BancShares from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $2,215.91.

First Citizens BancShares Stock Up 0.1%

NASDAQ:FCNCA opened at $1,991.55 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The stock has a market capitalization of $23.08 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.63. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The company's 50-day simple moving average is $1,928.22 and its 200-day simple moving average is $1,985.72.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating analysts' consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period last year, the business earned $37.79 EPS. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.83%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer directly owned 100,654 shares in the company, valued at $193,123,823.26. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have purchased 6,198 shares of company stock valued at $10,661,547. 14.63% of the stock is owned by company insiders.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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