Assenagon Asset Management S.A. Grows Stock Position in First Citizens BancShares, Inc. $FCNCA

Assenagon Asset Management S.A. grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 122.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,440 shares of the bank’s stock after buying an additional 1,342 shares during the period. Assenagon Asset Management S.A.’s holdings in First Citizens BancShares were worth $5,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Waycross Investment Management Co bought a new position in shares of First Citizens BancShares during the 4th quarter worth $6,649,000. Wealth Enhancement Advisory Services LLC raised its stake in First Citizens BancShares by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,835 shares of the bank’s stock valued at $10,589,000 after acquiring an additional 35 shares during the period. Nordea Investment Management AB raised its stake in First Citizens BancShares by 32.3% in the 4th quarter. Nordea Investment Management AB now owns 1,302 shares of the bank’s stock valued at $2,806,000 after acquiring an additional 318 shares during the period. Harbor Investment Advisory LLC lifted its holdings in First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after purchasing an additional 9 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in First Citizens BancShares during the fourth quarter valued at about $64,000. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 92 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $1,550.00 per share, with a total value of $142,600.00. Following the acquisition, the chief executive officer owned 2,841 shares of the company’s stock, valued at approximately $4,403,550. The trade was a 3.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 258 shares of company stock worth $404,236. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,835.67 on Friday. The stock’s 50-day simple moving average is $1,979.89 and its two-hundred day simple moving average is $1,943.33. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The firm has a market capitalization of $21.92 billion, a P/E ratio of 11.08 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $2.10 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio is presently 5.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FCNCA. Piper Sandler upped their price target on shares of 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. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. Citigroup restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Finally, Zacks Research lowered First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares 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.