Alua Capital Management LP Sells 17,700 Shares of First Citizens BancShares, Inc. $FCNCA

Alua Capital Management LP lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 43.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,159 shares of the bank’s stock after selling 17,700 shares during the quarter. First Citizens BancShares comprises approximately 2.9% of Alua Capital Management LP’s portfolio, making the stock its 14th largest holding. Alua Capital Management LP’s holdings in First Citizens BancShares were worth $41,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Citigroup Inc. raised its holdings in shares of First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after acquiring an additional 3,215 shares in the last quarter. AlphaQuest LLC lifted its position in First Citizens BancShares by 577.7% during the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 647 shares during the last quarter. Founders Financial Alliance LLC raised its position in shares of First Citizens BancShares by 484.7% during the 3rd quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock valued at $2,742,000 after buying an additional 1,270 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in First Citizens BancShares during the third quarter valued at about $415,000. Finally, Thrivent Financial for Lutherans increased its position in shares of First Citizens BancShares by 8.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock valued at $78,341,000 after purchasing an additional 3,587 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,768.04 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21. The firm has a market cap of $21.11 billion, a P/E ratio of 10.67 and a beta of 0.68. The business’s 50 day moving average price is $2,048.46 and its 200-day moving average price is $1,954.01.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is presently 5.07%.

Analysts Set New Price Targets

FCNCA has been the subject of several analyst reports. The Goldman Sachs Group lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Barclays dropped their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. Zacks Research lowered shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Finally, Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

First Citizens BancShares Profile

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.