Riposte Capital LLC Decreases Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Riposte Capital LLC reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 40.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,000 shares of the bank's stock after selling 4,000 shares during the period. First Citizens BancShares accounts for approximately 2.4% of Riposte Capital LLC's investment portfolio, making the stock its 8th largest holding. Riposte Capital LLC's holdings in First Citizens BancShares were worth $12,678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in First Citizens BancShares during the 4th quarter worth $33,000. Hemington Wealth Management grew 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 worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $36,000. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares in the fourth quarter valued at about $38,000. Institutional investors own 78.01% of the company's stock.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 17 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.40% of the company's stock.

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First Citizens BancShares Stock Performance

FCNCA traded down $44.97 on Friday, reaching $1,835.10. The company had a trading volume of 77,972 shares, compared to its average volume of 86,054. The stock has a market cap of $24.92 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two week high of $2,412.93. The company's fifty day moving average is $2,025.58 and its 200 day moving average is $2,052.31.

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

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, February 28th. First Citizens BancShares's payout ratio is 4.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FCNCA shares. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Truist Financial boosted their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.