Egerton Capital UK LLP Has $84.78 Million Position in First Citizens BancShares, Inc. $FCNCA

Egerton Capital UK LLP cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,384 shares of the bank’s stock after selling 41,626 shares during the quarter. First Citizens BancShares accounts for about 0.9% of Egerton Capital UK LLP’s holdings, making the stock its 24th biggest holding. Egerton Capital UK LLP owned about 0.37% of First Citizens BancShares worth $84,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares in the third quarter valued at approximately $27,000. UMB Bank n.a. raised its stake in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after acquiring an additional 8 shares during the last quarter. MAI Capital Management raised its stake in shares of First Citizens BancShares by 500.0% during the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after acquiring an additional 15 shares during the last quarter. Steph & Co. acquired a new position in shares of First Citizens BancShares during the third quarter worth $32,000. Finally, Root Financial Partners LLC bought a new stake in shares of First Citizens BancShares in the third quarter worth $32,000. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,898.15 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a fifty day moving average of $2,102.42 and a 200-day moving average of $1,955.99. The firm has a market capitalization of $23.61 billion, a P/E ratio of 11.45 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is presently 5.07%.

Wall Street Analyst Weigh In

FCNCA has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Barclays reduced their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Truist Financial raised their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.