Asset managers boost stakes in First Citizens and Citizens Financial

Multiple institutional investors increased their holdings in two U.S. regional banks during the fourth quarter. AG Campbell Advisory LLC purchased 1,010 shares of First Citizens BancShares (FCNCA) worth about $2.17 million, while Northwestern Mutual Wealth Management added 117,518 shares valued at $441.8 million. Norges Bank, River Road Asset Management, Orion Portfolio Solutions, and M&T Bank Corp also raised positions, bringing institutional ownership of First Citizens to roughly 78 % of its shares.

In Citizens Financial Group (CFG), MV Capital Management bought 61,041 shares for approximately $3.57 million. Wick Capital Partners, McGuire Capital Advisors, Compound Planning, Corient Private Wealth, and Mercer Global Advisors likewise expanded their stakes, resulting in institutional investors holding about 94.9 % of the company. Citizens reported quarterly earnings of $1.13 per share, beating expectations, and announced a quarterly dividend of $0.46 per share.