Interval Partners LP Takes $5.06 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Interval Partners LP acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,396 shares of the bank's stock, valued at approximately $5,063,000.

A number of other hedge funds have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the 4th quarter worth $36,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the 4th quarter worth about $38,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCNCA has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $2,336.58.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded up $3.63 during midday trading on Thursday, reaching $1,966.55. 54,022 shares of the company traded hands, compared to its average volume of 89,429. The firm's fifty day moving average price is $1,775.58 and its two-hundred day moving average price is $2,008.27. The firm has a market capitalization of $26.70 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

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

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of the stock in a transaction dated Friday, May 2nd. The shares were 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 now owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company's stock.

First Citizens BancShares Company 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.