1,540 Shares in First Citizens BancShares, Inc. $FCNCA Bought by Nykredit A S

Key Points

• Nykredit A/S acquired 1,540 shares of First Citizens BancShares during the second quarter, valued at approximately $3.2 million. Institutional investors collectively own 78.01% of the company.
• First Citizens reported quarterly earnings of $57.09 per share on $2.43 billion in revenue, exceeding analyst expectations for both earnings and revenue. Analysts have a consensus “Hold” rating and an average price target of $2,272.54.
• The bank paid a quarterly dividend of $2.10 per share, equivalent to an annualized dividend of $8.40 and a 0.4% yield. Shares opened at $2,068.01, down 2.5%, while insiders own 14.63% of the stock.

Nykredit A S acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,540 shares of the bank's stock, valued at approximately $3,204,000.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at about $116,565,000. River Road Asset Management LLC increased its position in shares of First Citizens BancShares by 574.0% during the fourth quarter. River Road Asset Management LLC now owns 55,402 shares of the bank's stock valued at $118,903,000 after acquiring an additional 47,182 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First Citizens BancShares by 54.6% in the 4th quarter. Bank of New York Mellon Corp now owns 53,018 shares of the bank's stock worth $113,786,000 after purchasing an additional 18,714 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in First Citizens BancShares by 20.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,876 shares of the bank's stock worth $174,048,000 after buying an additional 15,788 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of First Citizens BancShares by 44.7% during the first quarter. First Trust Advisors LP now owns 43,247 shares of the bank's stock valued at $81,506,000 after purchasing an additional 13,366 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $19.53, for a total value of $136,710.00. Following the transaction, the insider owned 15,000 shares in the company, valued at $292,950. The trade was a 31.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane E. Morais acquired 50 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $2,168.11 per share, for a total transaction of $108,405.50. Following the transaction, the director owned 100 shares in the company, valued at approximately $216,811. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 14.63% of the company's stock.

First Citizens BancShares Stock Down 2.5%

Shares of FCNCA opened at $2,068.01 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $23.35 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.60 and a beta of 0.60. The firm has a fifty day moving average price of $2,173.59 and a 200-day moving average price of $2,049.57. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,296.30.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $56.68. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. Equities research analysts expect that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is 4.49%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FCNCA. Citigroup reiterated a "neutral" rating on shares of First Citizens BancShares in a research report on Friday, July 24th. Fundamental Research set a $2,350.00 price objective on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 9th. Jefferies Financial Group reissued a "hold" rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 23rd. Finally, Piper Sandler increased their target price on First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2,272.54.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.

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