Check Capital Management Inc. CA Increases Stake in First Citizens BancShares, Inc. $FCNCA

Check Capital Management Inc. CA increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,364 shares of the bank’s stock after buying an additional 1,078 shares during the quarter. First Citizens BancShares accounts for 2.1% of Check Capital Management Inc. CA’s portfolio, making the stock its 6th largest position. Check Capital Management Inc. CA owned about 0.27% of First Citizens BancShares worth $63,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC increased 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 worth $1,358,000 after buying an additional 647 shares during the period. AdvisorShares Investments LLC purchased a new stake in First Citizens BancShares during the 3rd quarter valued at about $415,000. Thrivent Financial for Lutherans grew its position in First Citizens BancShares by 8.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock worth $78,341,000 after acquiring an additional 3,587 shares during the last quarter. Live Oak Private Wealth LLC increased its stake in First Citizens BancShares by 58.1% in the 3rd quarter. Live Oak Private Wealth LLC now owns 3,297 shares of the bank’s stock worth $5,899,000 after purchasing an additional 1,211 shares during the period. Finally, Rakuten Investment Management Inc. purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $46,540,000. 78.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 135 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the acquisition, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Down 4.7%

Shares of FCNCA opened at $2,003.76 on Friday. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is $2,115.65 and its 200-day moving average price is $1,949.97. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 12.09 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $2.24 billion. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. Piper Sandler raised their price target on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. TD Cowen decreased their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Company Profile

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.