PBU The Pension Fund of Early Childhood & Youth Educators Invests $6.74 Million in First Citizens BancShares, Inc. $FCNCA

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, Holdings Channel reports. The firm acquired 3,138 shares of the bank’s stock, valued at approximately $6,735,000.

Other hedge funds also recently modified their holdings of the company. Hiddenite Capital Partners LP bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at $6,868,000. Citigroup Inc. increased its stake in shares of First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after acquiring an additional 3,215 shares in the last quarter. Check Capital Management Inc. CA increased its position in First Citizens BancShares by 21.0% in the 4th quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank’s stock valued at $91,831,000 after buying an additional 7,424 shares in the last quarter. Founders Financial Alliance LLC increased its position in First Citizens BancShares by 484.7% in the 3rd quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock valued at $2,742,000 after buying an additional 1,270 shares in the last quarter. Finally, Barr E S & Co. increased its position in First Citizens BancShares by 33.2% in the 4th quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock valued at $12,866,000 after buying an additional 1,495 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FCNCA shares. Keefe, Bruyette & Woods decreased their target price on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research report on Thursday, April 9th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a research report on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2,215.91.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 6,187 shares of company stock valued at $10,640,161. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $2,075.10 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. The company’s fifty day moving average price is $1,965.38 and its two-hundred day moving average price is $1,998.38. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.58 and a beta of 0.62. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same period in the previous year, the company posted $37.79 EPS. On average, analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $2.10 dividend. 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, May 29th. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

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.