Fjarde AP Fonden Fourth Swedish National Pension Fund Has $5.70 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 28.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,655 shares of the bank’s stock after selling 1,060 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in First Citizens BancShares were worth $5,698,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Hiddenite Capital Partners LP acquired a new stake in First Citizens BancShares in the 4th quarter worth about $6,868,000. Citigroup Inc. raised its stake in First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock worth $30,305,000 after purchasing an additional 3,215 shares in the last quarter. Check Capital Management Inc. CA raised its stake 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 worth $91,831,000 after purchasing an additional 7,424 shares in the last quarter. Founders Financial Alliance LLC raised its stake 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 worth $2,742,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Barr E S & Co. raised its stake 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 worth $12,866,000 after purchasing an additional 1,495 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FCNCA shares. TD Cowen dropped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut 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 research note on Wednesday, April 8th. Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and a consensus price target of $2,215.91.

First Citizens BancShares Price Performance

Shares of NASDAQ: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. The stock has a market capitalization of $24.04 billion, a PE ratio of 11.93, a PEG ratio of 1.58 and a beta of 0.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,232.21.

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

First Citizens BancShares Announces Dividend

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

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 6,187 shares of company stock valued at $10,640,161. 14.63% of the stock is currently owned by insiders.

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.