Alberta Investment Management Corp Acquires 4,100 Shares of First Citizens BancShares, Inc. $FCNCA

Alberta Investment Management Corp grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,476 shares of the bank’s stock after buying an additional 4,100 shares during the quarter. First Citizens BancShares makes up 0.6% of Alberta Investment Management Corp’s portfolio, making the stock its 11th largest position. Alberta Investment Management Corp owned 0.25% of First Citizens BancShares worth $58,105,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP increased its position in First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after acquiring an additional 6 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of First Citizens BancShares by 4.0% during the second quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock worth $305,000 after purchasing an additional 6 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of First Citizens BancShares by 0.6% in the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 6 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in shares of First Citizens BancShares by 2.0% in the third quarter. Greenleaf Trust now owns 416 shares of the bank’s stock valued at $744,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 135 shares of the stock in a transaction on Wednesday, November 26th. The stock was bought at an average cost of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the acquisition, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at $4,118,176.09. The trade was a 5.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. TD Cowen decreased their price objective on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Truist Financial raised their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. Zacks Research cut First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a research report on Wednesday, February 4th. Finally, Barclays dropped their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Stock Up 3.5%

Shares of NASDAQ FCNCA opened at $2,060.02 on Thursday. The stock has a market cap of $25.63 billion, a P/E ratio of 12.43 and a beta of 0.70. The firm has a 50 day moving average price of $2,117.51 and a 200 day moving average price of $1,950.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,232.21.

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

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $2.10 per share. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is currently 5.07%.

First Citizens BancShares Profile

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.