Maltese Capital Management LLC Has $11.66 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Maltese Capital Management LLC decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,515 shares of the bank’s stock after selling 2,085 shares during the quarter. First Citizens BancShares comprises 1.8% of Maltese Capital Management LLC’s holdings, making the stock its 15th largest holding. Maltese Capital Management LLC’s holdings in First Citizens BancShares were worth $11,656,000 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 business. Goldman Sachs Group Inc. grew its holdings in First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after buying an additional 681 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of First Citizens BancShares by 71.9% in the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after acquiring an additional 164 shares during the period. Focus Partners Wealth increased its position in shares of First Citizens BancShares by 5.2% during the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares during the period. Allworth Financial LP lifted its stake in First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after purchasing an additional 6 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in First Citizens BancShares by 3.6% during the second quarter. PNC Financial Services Group Inc. now owns 580 shares of the bank’s stock valued at $1,135,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FCNCA. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. The Goldman Sachs Group cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,766.01 on Tuesday. The stock has a market capitalization of $21.09 billion, a PE ratio of 10.66 and a beta of 0.68. The stock’s 50-day moving average price is $2,040.13 and its 200-day moving average price is $1,951.78. 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 52 week low of $1,473.62 and a 52 week high of $2,232.21.

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

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a $2.10 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio is 5.07%.

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.