BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in First Citizens BancShares, Inc. $FCNCA

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,983 shares of the bank’s stock after buying an additional 1,295 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.07% of First Citizens BancShares worth $16,072,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of First Citizens BancShares by 35.3% during the second 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 grew its position in First Citizens BancShares by 4.0% during the 2nd quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock valued at $305,000 after purchasing an additional 6 shares during the last quarter. Corient Private Wealth LLC increased its stake in First Citizens BancShares by 0.6% during the 2nd 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. US Bancorp DE increased its stake in First Citizens BancShares by 0.8% during the 2nd quarter. US Bancorp DE now owns 873 shares of the bank’s stock valued at $1,708,000 after purchasing an additional 7 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in First Citizens BancShares by 2.0% in the third quarter. Greenleaf Trust now owns 416 shares of the bank’s stock worth $744,000 after buying an additional 8 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany acquired 300 shares of First Citizens BancShares stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the purchase, the director directly owned 300 shares of the company’s stock, valued at approximately $300,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank B. Holding, Jr. bought 135 shares of the firm’s stock in a transaction that occurred 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 owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,122.95 on Friday. The firm has a market capitalization of $26.41 billion, a P/E ratio of 12.81 and a beta of 0.70. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,237.50. The business has a fifty day moving average of $2,095.79 and a 200 day moving average of $1,950.25.

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, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

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. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FCNCA. TD Cowen reduced their price target on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Piper Sandler increased their target price on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Truist Financial boosted their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target on the stock. in a report on Tuesday, January 6th. Finally, UBS Group set a $2,325.00 price objective on First Citizens BancShares in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

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.