BI Asset Management Fondsmaeglerselskab A S Buys 3,218 Shares of First Citizens BancShares, Inc. $FCNCA

Key Points

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BI Asset Management Fondsmaeglerselskab A S grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 45.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,304 shares of the bank's stock after acquiring an additional 3,218 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of First Citizens BancShares worth $19,105,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares during the period. Community Bank N.A. acquired a new stake in First Citizens BancShares in the first quarter valued at $44,000. Johnson Financial Group Inc. acquired a new stake in First Citizens BancShares in the fourth quarter valued at $77,000. Wayfinding Financial LLC acquired a new stake in First Citizens BancShares during the 1st quarter worth about $64,000. Finally, Brooklyn Investment Group grew its holdings in First Citizens BancShares by 32.1% during the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank's stock worth $67,000 after acquiring an additional 9 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 600 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $1,698.75 per share, for a total transaction of $1,019,250.00. Following the completion of the transaction, the chief executive officer owned 32,300 shares of the company's stock, valued at approximately $54,869,625. The trade was a 1.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding bought 409 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company's stock, valued at $2,875,320. This represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,494 shares of company stock valued at $2,485,986. 13.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FCNCA shares. Citigroup increased their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays reduced their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Wall Street Zen downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, UBS Group restated a "buy" rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,291.17.

First Citizens BancShares Stock Up 2.6%

NASDAQ FCNCA traded up $50.36 during trading hours on Friday, hitting $1,987.99. The company's stock had a trading volume of 155,176 shares, compared to its average volume of 140,911. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a market capitalization of $25.68 billion, a PE ratio of 11.73 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. The company's 50-day simple moving average is $1,982.21 and its two-hundred day simple moving average is $1,905.33.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 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, September 15th. Stockholders of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio is presently 4.60%.

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.