National Pension Service Has $4.19 Million Position in First Citizens BancShares, Inc. $FCNCA

Key Points

• The National Pension Service sold 15,064 shares of First Citizens BancShares, reducing its holdings by 86.9%, leaving it with 2,262 shares valued at approximately $4.19 million.
• Several institutional investors, including GAMMA Investing LLC and Capital International Investors, have significantly increased their stakes in First Citizens BancShares, indicating strong interest from the investment community.
• As of the latest reports, First Citizens BancShares has an average analyst rating of "Hold" and a consensus target price of about $2,291.17, while the stock recently traded around $1,871.35.

National Pension Service decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 86.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,262 shares of the bank's stock after selling 15,064 shares during the period. National Pension Service's holdings in First Citizens BancShares were worth $4,194,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FCNCA. Gamco Investors INC. ET AL lifted its stake in shares of First Citizens BancShares by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock worth $328,000 after acquiring an additional 5 shares during the period. JT Stratford LLC lifted its stake in First Citizens BancShares by 0.4% during the fourth quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock valued at $2,635,000 after purchasing an additional 5 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after acquiring an additional 6 shares during the last quarter. M&T Bank Corp lifted its position in shares of First Citizens BancShares by 1.3% during the 1st quarter. M&T Bank Corp now owns 632 shares of the bank's stock valued at $1,172,000 after acquiring an additional 8 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of First Citizens BancShares by 3.8% during the 1st quarter. Venturi Wealth Management LLC now owns 221 shares of the bank's stock valued at $410,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 600 shares of the stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the transaction, the chief executive officer owned 32,300 shares in the company, valued at $54,869,625. This trade represents a 1.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Olivia Britton Holding purchased 409 shares of the stock in a transaction dated Thursday, August 7th. The stock was acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider owned 1,764 shares of the company's stock, valued at $2,875,320. The trade was a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent research reports. Barclays cut their price objective on 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. UBS Group reaffirmed a "buy" rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the company a "neutral" rating in a research note on Monday, July 28th. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target for the company. Finally, TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,291.17.

First Citizens BancShares Stock Up 0.5%

Shares of NASDAQ FCNCA traded up $9.3150 during mid-day trading on Thursday, reaching $1,940.6550. The company had a trading volume of 128,316 shares, compared to its average volume of 91,480. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $25.07 billion, a PE ratio of 11.41 and a beta of 0.64. The stock's 50 day moving average is $1,976.90 and its 200-day moving average is $1,907.86.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.95 dividend. The ex-dividend date is Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.60%.

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.