Nykredit A S Invests $4.36 Million in First Citizens BancShares, Inc. $FCNCA

Key Points

• Nykredit A/S purchased a new 2,094-share stake in First Citizens BancShares during the second quarter, valued at approximately $4.36 million. Institutional investors collectively own 78.01% of the bank.
• First Citizens reported quarterly revenue of $2.43 billion, exceeding estimates of $2.16 billion, while EPS of $57.09 significantly surpassed the consensus forecast. Analysts maintain a consensus “Hold” rating with an average price target of $2,278.31.
• The bank declared a quarterly dividend of $2.10 per share, equivalent to $8.40 annually and a 0.4% yield; director Diane Morais also bought 50 shares worth approximately $108,406.

Nykredit A S purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,094 shares of the bank's stock, valued at approximately $4,357,000.

A number of other hedge funds have also recently modified their holdings of FCNCA. Venturi Wealth Management LLC raised its stake in First Citizens BancShares by 2.6% during the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank's stock worth $439,000 after purchasing an additional 6 shares during the period. Corient Private Wealth LLC grew its stake in shares of First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank's stock valued at $2,051,000 after buying an additional 6 shares during the period. Parallel Advisors LLC grew its stake in shares of First Citizens BancShares by 8.0% in the 4th quarter. Parallel Advisors LLC now owns 95 shares of the bank's stock valued at $204,000 after buying an additional 7 shares during the period. Principal Securities Inc. increased its holdings in shares of First Citizens BancShares by 2.9% during the 4th quarter. Principal Securities Inc. now owns 251 shares of the bank's stock worth $539,000 after buying an additional 7 shares during the last quarter. Finally, Cooper Financial Group raised its position in shares of First Citizens BancShares by 6.5% during the 2nd quarter. Cooper Financial Group now owns 131 shares of the bank's stock valued at $273,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,208.49 on Monday. The company has a market capitalization of $24.93 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,296.30. The firm has a 50 day moving average price of $2,160.88 and a 200 day moving average price of $2,036.67.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. Research analysts expect that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares's dividend payout ratio (DPR) is 4.49%.

Analyst Ratings Changes

A number of research firms recently commented on FCNCA. Truist Financial upped their price objective on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a "hold" rating in a report on Tuesday, July 28th. Weiss Ratings upgraded First Citizens BancShares from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Piper Sandler upped their price target on First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of "Hold" and a consensus price target of $2,278.31.

Insider Buying and Selling

In other news, Director Diane Morais bought 50 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the transaction, the director directly owned 100 shares in the company, valued at $216,811. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.63% of the stock is owned by company insiders.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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