Hunting Hill Global Capital LLC Trims Holdings in First Citizens BancShares, Inc. $FCNCA

Hunting Hill Global Capital LLC lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 67.1% in the fourth quarter, HoldingsChannel reports. The fund owned 263 shares of the bank’s stock after selling 537 shares during the quarter. Hunting Hill Global Capital LLC’s holdings in First Citizens BancShares were worth $564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after acquiring an additional 205,658 shares during the last quarter. Norges Bank acquired a new position in shares of First Citizens BancShares during the 4th quarter valued at about $116,565,000. Orion Porfolio Solutions LLC increased its stake in shares of First Citizens BancShares by 2,057.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after acquiring an additional 45,304 shares during the last quarter. M&T Bank Corp increased its stake in shares of First Citizens BancShares by 13,512.7% during the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock valued at $82,679,000 after acquiring an additional 38,241 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of First Citizens BancShares by 96.7% during the 4th quarter. UBS Group AG now owns 69,551 shares of the bank’s stock valued at $149,269,000 after acquiring an additional 34,184 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research note on Wednesday, April 8th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, TD Cowen dropped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2,215.91.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the acquisition, the chief executive officer directly owned 38,111 shares in the company, valued at $65,810,837.02. The trade was a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 7,190 shares of company stock valued at $12,573,868. 14.63% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Down 0.2%

Shares of NASDAQ:FCNCA opened at $2,089.82 on Thursday. 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, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,232.21. The stock has a market capitalization of $24.22 billion, a P/E ratio of 12.02, a PEG ratio of 1.62 and a beta of 0.62. The stock has a 50-day simple moving average of $1,998.72 and a 200-day simple moving average of $2,013.48.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business earned $37.79 EPS. Equities analysts forecast that First Citizens BancShares, Inc. will post 175.61 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, May 29th. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

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.