First Citizens BancShares, Inc. $FCNCA Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,787 shares of the bank’s stock after buying an additional 3,587 shares during the quarter. Thrivent Financial for Lutherans owned about 0.34% of First Citizens BancShares worth $78,341,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FCNCA. National Pension Service raised its holdings in shares of First Citizens BancShares by 27.8% during the 3rd quarter. National Pension Service now owns 3,051 shares of the bank’s stock worth $5,459,000 after acquiring an additional 663 shares during the period. AlphaQuest LLC grew its holdings in shares of First Citizens BancShares by 577.7% in the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 647 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after purchasing an additional 14 shares during the last quarter. Federated Hermes Inc. increased its position in First Citizens BancShares by 122.8% during the third quarter. Federated Hermes Inc. now owns 205 shares of the bank’s stock worth $367,000 after purchasing an additional 113 shares during the last quarter. Finally, Truist Financial Corp raised its stake in First Citizens BancShares by 0.3% during the third quarter. Truist Financial Corp now owns 9,731 shares of the bank’s stock worth $17,411,000 after purchasing an additional 32 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other First Citizens BancShares news, Director Ellen R. Alemany bought 300 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director directly owned 300 shares in the company, valued at approximately $300,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price 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 represents a 5.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 13.19% of the stock is currently owned by corporate insiders.

First Citizens BancShares Trading Up 1.8%

FCNCA opened at $2,069.57 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,245.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $2,078.48 and a 200-day simple moving average of $1,948.56. The firm has a market cap of $25.75 billion, a P/E ratio of 12.49 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. On average, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCNCA. TD Cowen dropped 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 note on Monday, January 26th. UBS Group reiterated a “buy” rating and issued a $2,500.00 price objective on shares of First Citizens BancShares in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. Keefe, Bruyette & Woods reduced their target price on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Finally, The Goldman Sachs Group cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,254.18.

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.