Handelsbanken Fonder AB Grows Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Handelsbanken Fonder AB raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,272 shares of the bank's stock after buying an additional 200 shares during the quarter. Handelsbanken Fonder AB's holdings in First Citizens BancShares were worth $6,067,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FCNCA. Private Advisor Group LLC grew its position in First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after purchasing an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after acquiring an additional 5 shares during the last quarter. JT Stratford LLC increased its position in shares of First Citizens BancShares by 0.4% in the fourth quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock valued at $2,635,000 after acquiring an additional 5 shares during the last quarter. Finally, Hemington Wealth Management raised its holdings in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. acquired 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 purchase, the chief executive officer now directly owns 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCNCA. TD Cowen assumed coverage on First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target on the stock. Cowen assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Barclays cut 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. Finally, The Goldman Sachs Group dropped their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $2,340.33.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded down $22.59 during midday trading on Friday, hitting $1,818.68. The company's stock had a trading volume of 70,915 shares, compared to its average volume of 87,979. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50-day moving average price of $1,801.48 and a two-hundred day moving average price of $1,969.03.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

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.