Check Capital Management Inc. CA Buys 359 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Check Capital Management Inc. CA increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,958 shares of the bank's stock after acquiring an additional 359 shares during the period. First Citizens BancShares comprises about 1.8% of Check Capital Management Inc. CA's portfolio, making the stock its 8th largest position. Check Capital Management Inc. CA owned about 0.25% of First Citizens BancShares worth $62,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in First Citizens BancShares by 10.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 77 shares of the bank's stock valued at $164,000 after buying an additional 7 shares during the last quarter. Farther Finance Advisors LLC increased its stake in First Citizens BancShares by 360.9% in the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the bank's stock valued at $448,000 after buying an additional 166 shares during the last quarter. Natixis Advisors LLC increased its stake in First Citizens BancShares by 6.7% in the 4th quarter. Natixis Advisors LLC now owns 23,855 shares of the bank's stock valued at $50,406,000 after buying an additional 1,489 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in First Citizens BancShares by 45.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 235 shares of the bank's stock valued at $496,000 after buying an additional 73 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in First Citizens BancShares by 46.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,962 shares of the bank's stock valued at $75,997,000 after buying an additional 11,408 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,117.62 on Monday. The firm has a 50 day moving average of $1,907.01 and a 200-day moving average of $1,937.41. The stock has a market capitalization of $28.14 billion, a PE ratio of 12.13, a PEG ratio of 0.97 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 1.77. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer directly owned 2,758 shares of the company's stock, valued at $4,440,380. The trade was a 14.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCNCA. Barclays decreased their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Wall Street Zen downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Citigroup lifted their price objective on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. TD Cowen began coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares currently has an average rating of "Moderate Buy" and a consensus price target of $2,299.50.

First Citizens BancShares Company 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.

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