Handelsbanken Fonder AB Boosts Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Handelsbanken Fonder AB boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,872 shares of the bank’s stock after purchasing an additional 100 shares during the period. Handelsbanken Fonder AB’s holdings in First Citizens BancShares were worth $2,656,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CWM LLC increased its stake in shares of First Citizens BancShares by 9.6% in the 4th quarter. CWM LLC now owns 205 shares of the bank’s stock worth $290,000 after purchasing an additional 18 shares in the last quarter. Signaturefd LLC raised its stake in shares of First Citizens BancShares by 9.1% in the fourth quarter. Signaturefd LLC now owns 253 shares of the bank’s stock worth $359,000 after buying an additional 21 shares during the period. abrdn plc lifted its position in shares of First Citizens BancShares by 97.2% during the 4th quarter. abrdn plc now owns 3,809 shares of the bank’s stock valued at $5,405,000 after buying an additional 1,877 shares in the last quarter. Check Capital Management Inc. CA grew its stake in shares of First Citizens BancShares by 37.7% during the 4th quarter. Check Capital Management Inc. CA now owns 27,259 shares of the bank’s stock valued at $38,680,000 after acquiring an additional 7,460 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $6,385,000. 61.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent analyst reports. UBS Group raised their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a report on Friday. Finally, Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $1,850.00 to $1,950.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1,829.90.

First Citizens BancShares Stock Down 2.5 %

Shares of NASDAQ FCNCA opened at $1,754.50 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,810.03. The firm’s 50-day moving average price is $1,578.09 and its 200-day moving average price is $1,477.46. The stock 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 (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 179.92 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Insider Buying and Selling

In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other First Citizens BancShares news, insider Hope Holding Bryant bought 300 shares of First Citizens BancShares stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the purchase, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares of the company’s stock, valued at $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. 13.40% of the stock is owned by insiders.

First Citizens BancShares Company 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.