Assenagon Asset Management S.A. Has $5.24 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Key Points

• Assenagon Asset Management boosted its stake in First Citizens by 122.2% in Q4 to 2,440 shares valued at $5.237 million, and institutional investors now own about 78.01% of the stock.
• CEO Frank B. Holding, Jr. bought 92 shares at roughly $1,550 each, increasing his holdings to 2,841 shares; company insiders own 13.40% of First Citizens.
• First Citizens topped Q4 estimates with EPS $51.27 (vs. $44.24 expected) and $2.44B revenue, and analysts maintain a consensus "Moderate Buy" with an average price target near $2,238.

Assenagon Asset Management S.A. boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 122.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,440 shares of the bank's stock after purchasing an additional 1,342 shares during the period. Assenagon Asset Management S.A.'s holdings in First Citizens BancShares were worth $5,237,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FCNCA. Waycross Investment Management Co bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at $6,649,000. Wealth Enhancement Advisory Services LLC boosted its position in First Citizens BancShares by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,835 shares of the bank's stock valued at $10,589,000 after acquiring an additional 35 shares during the last quarter. Nordea Investment Management AB boosted its position in First Citizens BancShares by 32.3% during the fourth quarter. Nordea Investment Management AB now owns 1,302 shares of the bank's stock valued at $2,806,000 after acquiring an additional 318 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after acquiring an additional 9 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in First Citizens BancShares during the 4th quarter worth about $64,000. 78.01% of the stock is owned by institutional investors.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 92 shares of the stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $1,550.00 per share, with a total value of $142,600.00. Following the completion of the transaction, the chief executive officer owned 2,841 shares in the company, valued at approximately $4,403,550. The trade was a 3.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 258 shares of company stock worth $404,236 in the last three months. Company insiders own 13.40% of the company's stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a "neutral" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 16th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. Zacks Research lowered First Citizens BancShares from a "hold" rating to a "strong sell" rating in a research note on Monday, February 16th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of First Citizens BancShares in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,238.27.

First Citizens BancShares Trading Down 3.2%

Shares of FCNCA stock opened at $1,835.67 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 11.08 and a beta of 0.68. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,232.21. The company has a 50-day simple moving average of $1,979.89 and a two-hundred day simple moving average of $1,943.33.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts' consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, February 27th. First Citizens BancShares's dividend payout ratio (DPR) is 5.07%.

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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