Fjarde AP Fonden Fourth Swedish National Pension Fund Has $7.17 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 43.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,805 shares of the bank’s stock after acquiring an additional 1,150 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in First Citizens BancShares were worth $7,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted its holdings in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after acquiring an additional 9 shares during the last quarter. Reflection Asset Management purchased a new position in First Citizens BancShares during the 4th quarter worth $45,000. UMB Bank n.a. grew its stake in shares of First Citizens BancShares by 50.0% in the 4th quarter. UMB Bank n.a. now owns 24 shares of the bank’s stock worth $52,000 after acquiring an additional 8 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in shares of First Citizens BancShares in the 4th quarter worth $56,000. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,082.99 on Monday. The company has a market capitalization of $24.14 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.59 and a beta of 0.62. The business has a fifty day simple moving average of $2,019.87 and a two-hundred day simple moving average of $2,022.70. 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, 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 results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $37.79 EPS. On average, analysts expect that First Citizens BancShares, Inc. will post 175.42 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $2.10 dividend. The ex-dividend date was Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the purchase, the chief executive officer owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This represents a 18.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 7,190 shares of company stock valued at $12,573,868 in the last three months. 14.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FCNCA shares. TD Cowen dropped their price target on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Wednesday. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and a consensus target price of $2,243.75.

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.