2,473 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by Tradewinds LLC.

Tradewinds LLC. bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,473 shares of the bank’s stock, valued at approximately $4,424,000. First Citizens BancShares makes up approximately 1.1% of Tradewinds LLC.’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds have also made changes to their positions in the company. Steph & Co. purchased a new position in shares of First Citizens BancShares during the third quarter valued at $32,000. MAI Capital Management lifted its stake in First Citizens BancShares by 500.0% in the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock worth $35,000 after acquiring an additional 15 shares during the period. Creekmur Asset Management LLC bought a new position in First Citizens BancShares during the 2nd quarter worth about $39,000. Allworth Financial LP increased its position in First Citizens BancShares by 35.3% during the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after purchasing an additional 6 shares during the period. Finally, Bronte Capital Management Pty Ltd. increased its position in First Citizens BancShares by 13.5% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 24,198 shares of the bank’s stock valued at $47,000 after purchasing an additional 2,887 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 0.4%

Shares of FCNCA stock opened at $2,169.35 on Monday. The stock’s fifty day moving average price is $2,027.44 and its 200 day moving average price is $1,949.98. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 12.83 and a beta of 0.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.09% and a net margin of 15.99%.The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.21 billion. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, November 28th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.97%.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the purchase, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. The trade was a 5.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Alemany purchased 300 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the transaction, the director owned 300 shares in the company, valued at $300,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price target on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. JPMorgan Chase & Co. increased their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Piper Sandler reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Wall Street Zen cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,250.55.

About First Citizens BancShares

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.