2,435 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

Key Points

• United Super Pty Ltd, as trustee for the Construction & Building Unions Superannuation Fund, bought 2,435 shares of First Citizens BancShares in the fourth quarter, a stake valued at about $5.23 million.
• Several other institutional investors also increased their holdings, and 78.01% of the stock is owned by hedge funds and other institutions, indicating broad professional investor interest.
• CEO Frank B. Holding, Jr. sold 5,346 shares in May, while the company recently reported better-than-expected quarterly EPS of $44.86 and announced a $2.10 quarterly dividend.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,435 shares of the bank's stock, valued at approximately $5,226,000.

A number of other large investors also recently modified their holdings of the company. Malaga Cove Capital LLC raised its holdings in shares of First Citizens BancShares by 24.9% in the 4th quarter. Malaga Cove Capital LLC now owns 783 shares of the bank's stock worth $1,680,000 after purchasing an additional 156 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of First Citizens BancShares by 250.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 42 shares of the bank's stock worth $90,000 after purchasing an additional 30 shares during the period. Allstate Corp raised its holdings in shares of First Citizens BancShares by 88.1% in the 4th quarter. Allstate Corp now owns 587 shares of the bank's stock worth $1,260,000 after purchasing an additional 275 shares during the period. 44 Wealth Management LLC raised its holdings in shares of First Citizens BancShares by 0.7% in the 4th quarter. 44 Wealth Management LLC now owns 1,238 shares of the bank's stock worth $2,657,000 after purchasing an additional 9 shares during the period. Finally, Swedbank AB raised its holdings in shares of First Citizens BancShares by 61.0% in the 4th quarter. Swedbank AB now owns 4,410 shares of the bank's stock worth $9,465,000 after purchasing an additional 1,671 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer owned 100,654 shares in the company, valued at approximately $193,123,823.26. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 6,198 shares of company stock valued at $10,661,547 in the last ninety days. 14.63% of the stock is currently owned by company insiders.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,990.51 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current 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. The firm has a market cap of $23.06 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.63. The stock has a 50-day simple moving average of $1,949.40 and a 200-day simple moving average of $1,992.23.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm earned $37.79 earnings per share. On average, equities analysts predict that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings downgraded First Citizens BancShares from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 22nd. Wall Street Zen upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Sunday, May 24th. TD Cowen cut their price objective 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. Keefe, Bruyette & Woods cut their price objective on First Citizens BancShares from $2,375.00 to $2,300.00 and set an "outperform" rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on First Citizens BancShares from $2,200.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $2,215.91.

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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