Tredje AP fonden Has $22.57 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tredje AP fonden raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 101.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,171 shares of the bank's stock after buying an additional 6,137 shares during the period. Tredje AP fonden owned about 0.09% of First Citizens BancShares worth $22,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sei Investments Co. raised its stake in shares of First Citizens BancShares by 69.6% during the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock valued at $6,404,000 after purchasing an additional 1,244 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of First Citizens BancShares in the first quarter worth $2,642,000. Bank of New York Mellon Corp increased its stake in shares of First Citizens BancShares by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank's stock worth $75,190,000 after buying an additional 772 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of First Citizens BancShares by 16.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank's stock worth $352,000 after buying an additional 27 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of First Citizens BancShares in the first quarter worth $439,000. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

FCNCA stock traded down $82.12 during trading on Friday, hitting $1,912.64. The company had a trading volume of 119,140 shares, compared to its average volume of 75,601. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 11.29 and a beta of 0.64. The business has a 50 day moving average of $1,966.04 and a 200 day moving average of $1,936.28. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. 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 (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.30%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. As a group, research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $1.95 dividend. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a yield of 0.4%. First Citizens BancShares's payout ratio is 4.60%.

Insider Buying and Selling

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 66 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $1,735.00 per share, for a total transaction of $114,510.00. Following the completion of the transaction, the insider owned 121,926 shares in the company, valued at $211,541,610. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.40% of the company's stock.

Analysts Set New Price Targets

FCNCA has been the subject of a number of research analyst reports. Barclays dropped their price target 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 note on Friday, April 25th. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. UBS Group restated a "buy" rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the stock a "neutral" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $2,291.17.

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.