E. Ohman J or Asset Management AB Has $28.54 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

E. Ohman J or Asset Management AB reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,392 shares of the bank's stock after selling 2,899 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.11% of First Citizens BancShares worth $28,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its holdings in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB increased its position in shares of First Citizens BancShares by 54.5% during 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. Mather Group LLC. increased its position in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at $38,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the stock in a transaction dated Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,814.09 on Friday. The stock has a 50-day simple moving average of $1,786.10 and a 200 day simple moving average of $1,984.38. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. 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 announced its earnings results 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. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 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 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's dividend payout ratio is 4.47%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FCNCA shares. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Barclays decreased their target price on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. Cowen started coverage on First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, TD Cowen began coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,340.33.

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.

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