First Citizens BancShares, Inc. $FCNCA Stock Position Lifted by Reinhart Partners LLC.

Reinhart Partners LLC. lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,206 shares of the bank’s stock after purchasing an additional 5,909 shares during the period. First Citizens BancShares comprises approximately 4.0% of Reinhart Partners LLC.’s investment portfolio, making the stock its 4th largest holding. Reinhart Partners LLC. owned 0.73% of First Citizens BancShares worth $175,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in shares of First Citizens BancShares by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after buying an additional 681 shares in the last quarter. Empowered Funds LLC grew its stake in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after buying an additional 164 shares in the last quarter. Focus Partners Wealth grew its stake in First Citizens BancShares by 5.2% in the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in First Citizens BancShares by 31.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock valued at $172,000 after buying an additional 21 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in First Citizens BancShares during the 2nd quarter valued at $260,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 528 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the acquisition, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 7,190 shares of company stock worth $12,573,868 in the last 90 days. Insiders own 14.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FCNCA shares. Piper Sandler increased their price objective on First Citizens BancShares from $2,050.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,300.00 target price on shares of First Citizens BancShares in a report on Thursday, July 23rd. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,350.00 to $2,450.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2,278.31.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $2,218.49 on Friday. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,289.99. The stock has a market capitalization of $25.71 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.71 and a beta of 0.62. The company has a fifty day moving average of $2,108.09 and a 200-day moving average of $2,020.43. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $56.68. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 11.98%. Equities research analysts expect that First Citizens BancShares, Inc. will post 190.06 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.49%.

First Citizens BancShares Company 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.