E. Ohman J or Asset Management AB Sells 12,398 Shares of First Citizens BancShares, Inc. $FCNCA

E. Ohman J or Asset Management AB lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 95.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 540 shares of the bank’s stock after selling 12,398 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in First Citizens BancShares were worth $1,124,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FCNCA. Venturi Wealth Management LLC boosted its holdings in First Citizens BancShares by 2.6% during the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after buying an additional 6 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after acquiring an additional 6 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of First Citizens BancShares by 3.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock valued at $519,000 after acquiring an additional 7 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of First Citizens BancShares by 8.0% in the 4th quarter. Parallel Advisors LLC now owns 95 shares of the bank’s stock valued at $204,000 after acquiring an additional 7 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of First Citizens BancShares by 2.9% in the 4th quarter. Principal Securities Inc. now owns 251 shares of the bank’s stock valued at $539,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 528 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the purchase, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. This represents a 0.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 1,250 shares of company stock worth $2,316,557. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares Stock Up 0.9%

Shares of First Citizens BancShares stock opened at $2,253.13 on Wednesday. The company has a market capitalization of $26.11 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.71 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $2,119.10 and a two-hundred day moving average of $2,020.65. First Citizens BancShares, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,289.99.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a return on equity of 11.98% and a net margin of 16.28%.The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.16 billion. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 190.06 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is 4.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FCNCA. Truist Financial lifted their price objective on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,350.00 to $2,450.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Fundamental Research set a $2,350.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Hold” and an average price target of $2,278.31.

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.