Gator Capital Management LLC Sells 15 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gator Capital Management LLC trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,703 shares of the bank’s stock after selling 15 shares during the period. First Citizens BancShares comprises about 6.9% of Gator Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Gator Capital Management LLC owned about 0.06% of First Citizens BancShares worth $18,390,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in shares of First Citizens BancShares by 49.0% in the third quarter. Benjamin Edwards Inc. now owns 362 shares of the bank’s stock valued at $667,000 after buying an additional 119 shares during the period. Janus Henderson Group PLC lifted its position in shares of First Citizens BancShares by 37.1% in the third quarter. Janus Henderson Group PLC now owns 739 shares of the bank’s stock worth $1,359,000 after purchasing an additional 200 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in First Citizens BancShares by 3.8% during the third quarter. Royal London Asset Management Ltd. now owns 8,870 shares of the bank’s stock worth $16,329,000 after purchasing an additional 328 shares during the last quarter. Quantinno Capital Management LP grew its position in First Citizens BancShares by 69.5% in the third quarter. Quantinno Capital Management LP now owns 317 shares of the bank’s stock valued at $584,000 after purchasing an additional 130 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in First Citizens BancShares during the 3rd quarter worth about $2,606,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,571.21 on Friday. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $1,978.80 and its 200 day simple moving average is $2,050.23. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.50%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Insider Activity

In other news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FCNCA shares. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

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.