Livforsakringsbolaget Skandia Omsesidigt Raises Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Livforsakringsbolaget Skandia Omsesidigt raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,727 shares of the bank’s stock after acquiring an additional 17 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in First Citizens BancShares were worth $5,289,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of First Citizens BancShares by 145.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after buying an additional 833 shares during the period. Nordea Investment Management AB boosted its stake in First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after acquiring an additional 23,156 shares in the last quarter. Reinhart Partners LLC. boosted its stake in First Citizens BancShares by 11.7% during the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after acquiring an additional 5,952 shares in the last quarter. Legal & General Group Plc boosted its stake in First Citizens BancShares by 49.1% during the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock worth $65,261,000 after acquiring an additional 15,579 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in First Citizens BancShares by 90.9% during the third quarter. Hsbc Holdings PLC now owns 3,132 shares of the bank’s stock worth $4,326,000 after acquiring an additional 1,491 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded up $17.49 during midday trading on Wednesday, reaching $1,550.00. The stock had a trading volume of 57,842 shares, compared to its average volume of 81,361. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a 50-day moving average of $1,561.43 and a 200-day moving average of $1,465.85. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,651.73. The company has a market capitalization of $22.51 billion, a price-to-earnings ratio of 1.98 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $1.64 per share. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 0.84%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FCNCA. Wedbush reiterated an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. Barclays began coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price on the stock. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. UBS Group upped their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, DA Davidson reiterated a “neutral” rating and issued a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,768.63.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Hope Holding Bryant purchased 300 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the purchase, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The disclosure for this purchase can be found here. Insiders acquired 1,388 shares of company stock worth $1,825,220 over the last 90 days. 12.85% of the stock is owned by insiders.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.