Tredje AP fonden Purchases 342 Shares of First Citizens BancShares, Inc. $FCNCA

Tredje AP fonden grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 42.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,153 shares of the bank’s stock after purchasing an additional 342 shares during the quarter. Tredje AP fonden’s holdings in First Citizens BancShares were worth $2,063,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $27,000. UMB Bank n.a. increased its holdings in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares in the last quarter. MAI Capital Management increased its holdings in shares of First Citizens BancShares by 500.0% in the 2nd quarter. MAI Capital Management now owns 18 shares of the bank’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Steph & Co. purchased a new position in shares of First Citizens BancShares in the third quarter worth $32,000. Finally, Root Financial Partners LLC bought a new position in shares of First Citizens BancShares during the third quarter valued at $32,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCNCA. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. Barclays dropped their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Truist Financial raised their target price on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Stock Down 1.4%

NASDAQ FCNCA opened at $2,016.58 on Monday. The stock has a 50 day moving average price of $2,115.99 and a 200-day moving average price of $1,952.95. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $25.09 billion, a P/E ratio of 12.17 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.07%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 135 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the transaction, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. The trade was a 5.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.19% of the company’s stock.

About First Citizens BancShares

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.