First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Hiddenite Capital Partners LP

Hiddenite Capital Partners LP lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,230 shares of the bank's stock after acquiring an additional 400 shares during the quarter. First Citizens BancShares makes up 1.9% of Hiddenite Capital Partners LP's holdings, making the stock its 11th biggest holding. Hiddenite Capital Partners LP's holdings in First Citizens BancShares were worth $5,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors acquired a new stake in First Citizens BancShares during the first quarter worth approximately $298,180,000. Vanguard Group Inc. grew its stake in First Citizens BancShares by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank's stock valued at $1,740,984,000 after acquiring an additional 47,167 shares during the period. Toronto Dominion Bank lifted its holdings in First Citizens BancShares by 3,577.5% during the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank's stock worth $58,943,000 after acquiring an additional 34,058 shares during the period. Zurich Insurance Group Ltd FI raised its stake in shares of First Citizens BancShares by 225.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock valued at $70,979,000 after buying an additional 29,194 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in First Citizens BancShares by 770.1% during the first quarter. Westfield Capital Management Co. LP now owns 27,713 shares of the bank's stock worth $45,312,000 after buying an additional 24,528 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Down 0.0 %

NASDAQ:FCNCA traded down $0.34 during trading hours on Wednesday, reaching $2,175.11. The company's stock had a trading volume of 28,345 shares, compared to its average volume of 87,428. The stock has a 50 day moving average price of $1,959.48 and a two-hundred day moving average price of $1,863.79. 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 12 month low of $1,363.97 and a 12 month high of $2,275.90. The company has a market capitalization of $31.47 billion, a P/E ratio of 12.58 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the business posted $55.92 EPS. Equities analysts predict that First Citizens BancShares, Inc. will post 189.06 EPS for the current fiscal year.

First Citizens BancShares declared that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that permits the company to buyback $3.50 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares's payout ratio is 3.76%.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Barclays increased their target price on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Wedbush decreased their target price 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 25th. StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. Finally, Piper Sandler upped their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Hold" and a consensus target price of $2,025.90.

First Citizens BancShares 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.