1,460 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by PFA Pension Forsikringsaktieselskab

Key Points

• PFA Pension purchased a new stake of 1,460 shares in First Citizens (NASDAQ:FCNCA) during Q4, valued at about $3,154,000.
• CEO Frank B. Holding Jr. bought 92 shares at $1,550 each, increasing his holdings to 2,841 shares and contributing to insiders owning 14.63% of the company.
• First Citizens reported quarterly EPS of $44.86, beating estimates, and declared a quarterly dividend of $2.10 (annualized $8.40, ~0.4% yield).

PFA Pension Forsikringsaktieselskab purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,460 shares of the bank's stock, valued at approximately $3,154,000.

A number of other hedge funds also recently made changes to their positions in FCNCA. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at $27,000. UMB Bank n.a. boosted its holdings in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank's stock valued at $29,000 after purchasing an additional 8 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at $32,000. Harbor Investment Advisory LLC boosted its holdings in shares of First Citizens BancShares by 150.0% in the 4th 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, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of First Citizens BancShares by 280.0% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 92 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $1,550.00 per share, with a total value of $142,600.00. Following the purchase, the chief executive officer directly owned 2,841 shares of the company's stock, valued at approximately $4,403,550. This represents a 3.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 258 shares of company stock worth $404,236. Insiders own 14.63% of the company's stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,300.00 price target on the stock. in a report on Tuesday, January 6th. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a "hold" rating in a report on Monday, January 26th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Citigroup reiterated a "neutral" rating on shares of First Citizens BancShares in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of "Hold" and an average target price of $2,202.08.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,954.45 on Tuesday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.53 and a beta of 0.63. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The firm's fifty day moving average price is $1,926.86 and its 200 day moving average price is $1,967.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.37%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm posted $37.79 EPS. On average, research analysts forecast that First Citizens BancShares, Inc. will post 176.04 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

About First Citizens BancShares

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.

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