Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,060 Shares of First Citizens BancShares, Inc. $FCNCA

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,655 shares of the bank’s stock after selling 1,060 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in First Citizens BancShares were worth $5,698,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in First Citizens BancShares in the third quarter valued at $27,000. Harbor Investment Advisory LLC grew its position in First Citizens BancShares by 150.0% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in First Citizens BancShares by 280.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares in the last quarter. Fifth Third Bancorp grew its position in First Citizens BancShares by 40.0% in the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares in the last quarter. Finally, Allworth Financial LP grew its position in First Citizens BancShares by 21.7% in the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after purchasing an additional 5 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,075.10 on Monday. The firm has a 50-day moving average of $1,965.38 and a 200-day moving average of $1,999.85. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a market cap of $24.04 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm posted $37.79 EPS. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FCNCA. Piper Sandler set a $2,050.00 target price on shares of First Citizens BancShares in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price for the company. in a research report on Wednesday, April 8th. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Finally, Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,215.91.

Insider Activity

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

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.