Handelsbanken Fonder AB Acquires 200 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Handelsbanken Fonder AB boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,272 shares of the bank's stock after acquiring an additional 200 shares during the quarter. Handelsbanken Fonder AB's holdings in First Citizens BancShares were worth $6,067,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after purchasing an additional 6 shares in the last quarter. Hemington Wealth Management lifted its position in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares during the 4th quarter worth about $36,000. Asset Planning Inc bought a new stake in First Citizens BancShares during the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. bought a new stake in First Citizens BancShares during the 4th quarter worth about $40,000. 78.01% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the business's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FCNCA. Jefferies Financial Group began coverage on First Citizens BancShares in a report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price on the stock. The Goldman Sachs Group dropped their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Barclays dropped their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. Finally, Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of "Moderate Buy" and an average target price of $2,340.33.

First Citizens BancShares Stock Performance

Shares of FCNCA traded down $1.79 during trading hours on Monday, hitting $1,816.89. The company had a trading volume of 59,193 shares, compared to its average volume of 88,068. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.94 and a beta of 0.64. The business has a fifty day moving average of $1,811.73 and a 200-day moving average of $1,957.39. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. 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 (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. 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 currently 4.47%.

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.