BI Asset Management Fondsmaeglerselskab A S Lowers Stake in First Citizens BancShares, Inc. $FCNCA

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 41.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,260 shares of the bank's stock after selling 3,723 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in First Citizens BancShares were worth $11,289,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares during the third quarter valued at approximately $27,000. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank's stock valued at $29,000 after purchasing an additional 8 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock valued at $32,000 after purchasing an additional 9 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in First Citizens BancShares by 280.0% during the third 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 in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank's stock valued at $38,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Ratings Changes

FCNCA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,154.00 price objective on the stock. in a research report on Wednesday, April 8th. Citigroup reiterated a "neutral" rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Zacks Research upgraded shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research report on Friday, April 24th. Finally, TD Cowen reduced their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2,215.91.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the transaction, the chief executive officer directly owned 38,111 shares of the company's stock, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 6,187 shares of company stock worth $10,640,161 in the last quarter. Insiders own 14.63% of the company's stock.

First Citizens BancShares Trading Up 1.4%

Shares of FCNCA opened at $2,075.10 on Friday. The company's fifty day moving average is $1,965.38 and its 200 day moving average is $1,998.38. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The stock has a market capitalization of $24.05 billion, a PE ratio of 11.93, a P/E/G ratio of 1.58 and a beta of 0.62. 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 (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share 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 11.48%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the previous year, the business posted $37.79 earnings per share. Sell-side analysts expect that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

First Citizens BancShares Company Profile

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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