First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,872 shares of the bank’s stock after acquiring an additional 100 shares during the quarter. Handelsbanken Fonder AB’s holdings in First Citizens BancShares were worth $2,656,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after acquiring an additional 10 shares in the last quarter. Lindbrook Capital LLC lifted its stake in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after buying an additional 8 shares in the last quarter. Federated Hermes Inc. lifted its stake in First Citizens BancShares by 60.0% in the 3rd quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock valued at $77,000 after buying an additional 21 shares in the last quarter. UMB Bank n.a. increased its stake in First Citizens BancShares by 1,040.0% during the 3rd quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock worth $79,000 after buying an additional 52 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $95,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Frank B. Holding, Jr. acquired 622 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the transaction, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Insiders purchased a total of 1,388 shares of company stock worth $1,825,220 over the last three months. Insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FCNCA shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Piper Sandler lowered shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $1,850.00 to $1,950.00 in a research report on Friday. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, The Goldman Sachs Group began coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $1,829.90.

First Citizens BancShares Trading Down 2.5 %

Shares of First Citizens BancShares stock opened at $1,754.50 on Friday. The stock has a 50 day moving average of $1,578.09 and a 200 day moving average of $1,477.46. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 2.24 and a beta of 0.89. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, research analysts predict that First Citizens BancShares, Inc. will post 179.92 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, May 31st. First Citizens BancShares’s dividend payout ratio (DPR) is presently 0.84%.

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.