Interval Partners LP Acquires Shares of 2,396 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

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

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. grew its position in 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 last quarter. Private Advisor Group LLC boosted its holdings in shares of First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after acquiring an additional 5 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the transaction, the chief executive officer now owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This represents a 14.53% increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is owned by insiders.

First Citizens BancShares Price Performance

FCNCA traded down $12.97 during midday trading on Friday, reaching $1,953.58. 59,210 shares of the company's stock were exchanged, compared to its average volume of 89,447. 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 stock has a market capitalization of $25.96 billion, a PE ratio of 10.31, a P/E/G ratio of 0.94 and a beta of 0.64. The business's 50-day moving average price is $1,784.78 and its 200 day moving average price is $2,008.87. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its 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 company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Analyst Ratings Changes

FCNCA has been the topic of several analyst reports. StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. The Goldman Sachs Group lowered their target price 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. TD Cowen initiated coverage on shares of First Citizens BancShares in a report on Thursday. They issued a "buy" rating and a $2,400.00 target price on the stock. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,336.58.

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.