Southpoint Capital Advisors LP Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Southpoint Capital Advisors LP acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the bank’s stock, valued at approximately $83,577,000.

Several other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth about $269,000. Northern Trust Corp grew its position in shares of First Citizens BancShares by 1.0% in the 4th quarter. Northern Trust Corp now owns 55,645 shares of the bank’s stock worth $31,954,000 after buying an additional 533 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $233,000. Public Employees Retirement System of Ohio raised its holdings in shares of First Citizens BancShares by 30.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the bank’s stock valued at $1,889,000 after acquiring an additional 760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in First Citizens BancShares by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,431 shares of the bank’s stock worth $35,278,000 after acquiring an additional 590 shares during the period. Hedge funds and other institutional investors own 45.73% of the company’s stock.

FCNCA has been the subject of several research reports. DA Davidson restated a “buy” rating on shares of First Citizens BancShares in a report on Thursday, May 6th. Keefe, Bruyette & Woods assumed coverage on shares of First Citizens BancShares in a report on Monday, April 19th. They issued an “outperform” rating and a $1,000.00 price objective for the company.

FCNCA traded down $12.64 during trading on Thursday, reaching $766.50. The stock had a trading volume of 801 shares, compared to its average volume of 61,083. The firm’s 50 day simple moving average is $836.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.53 billion, a P/E ratio of 13.38 and a beta of 1.20. First Citizens BancShares, Inc. has a one year low of $310.27 and a one year high of $901.17.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Tuesday, April 27th. The bank reported $14.53 EPS for the quarter, beating the Zacks’ consensus estimate of $11.94 by $2.59. The firm had revenue of $476.30 million for the quarter. First Citizens BancShares had a net margin of 28.36% and a return on equity of 15.01%. Research analysts predict that First Citizens BancShares, Inc. will post 46.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Friday, July 30th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, July 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.30. First Citizens BancShares’s dividend payout ratio is 3.96%.

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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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