First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,893 shares of the bank’s stock after selling 500 shares during the period. First Citizens BancShares accounts for 2.1% of Huber Capital Management LLC’s portfolio, making the stock its 18th largest position. Huber Capital Management LLC’s holdings in First Citizens BancShares were worth $10,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCNCA. M&T Bank Corp grew its stake in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Mather Group LLC. raised its position 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 buying an additional 5 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after acquiring an additional 5 shares during the period. 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. Finally, Hemington Wealth Management increased its stake in shares of First Citizens BancShares by 60.0% during 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 during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA opened at $1,859.58 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The stock has a fifty day moving average price of $2,003.56 and a 200 day moving average price of $2,054.31. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

Insider Activity

In other news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCNCA. Truist Financial increased their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,288.08.

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.