Tredje AP fonden Buys 4,925 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tredje AP fonden lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 444.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,034 shares of the bank’s stock after purchasing an additional 4,925 shares during the quarter. Tredje AP fonden’s holdings in First Citizens BancShares were worth $12,750,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of First Citizens BancShares by 360.9% during the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the bank’s stock worth $448,000 after purchasing an additional 166 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of First Citizens BancShares by 6.2% during the 4th quarter. Independent Advisor Alliance now owns 1,158 shares of the bank’s stock worth $2,447,000 after acquiring an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Citizens BancShares by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the bank’s stock worth $4,668,000 after acquiring an additional 47 shares during the period. Personal CFO Solutions LLC bought a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $264,000. Finally, Amundi boosted its stake in shares of First Citizens BancShares by 1.7% during the 4th quarter. Amundi now owns 8,955 shares of the bank’s stock worth $18,752,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,738.71 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,515.02 and a 52 week high of $2,412.93. The stock has a market capitalization of $23.61 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The stock has a fifty day moving average of $2,092.22 and a 200-day moving average of $2,063.27.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.45%. First Citizens BancShares’s payout ratio is presently 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several research analyst reports. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.