Norges Bank Acquires New Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Norges Bank acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 126,880 shares of the bank's stock, valued at approximately $180,039,000. Norges Bank owned 0.87% of First Citizens BancShares as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FCNCA. Lincoln National Corp increased its holdings in shares of First Citizens BancShares by 2.6% in the 4th quarter. Lincoln National Corp now owns 277 shares of the bank's stock worth $393,000 after acquiring an additional 7 shares during the period. Quadrant Capital Group LLC increased its stake in shares of First Citizens BancShares by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 165 shares of the bank's stock valued at $234,000 after purchasing an additional 7 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of First Citizens BancShares by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank's stock valued at $229,000 after buying an additional 7 shares during the last quarter. TriaGen Wealth Management LLC boosted its position in shares of First Citizens BancShares by 3.2% during the fourth quarter. TriaGen Wealth Management LLC now owns 286 shares of the bank's stock worth $406,000 after buying an additional 9 shares during the period. Finally, Quent Capital LLC boosted its position in shares of First Citizens BancShares by 4.2% during the fourth quarter. Quent Capital LLC now owns 249 shares of the bank's stock worth $354,000 after buying an additional 10 shares during the period. Institutional investors own 61.18% of the company's stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded down $31.94 during trading hours on Thursday, reaching $1,748.20. 87,482 shares of the company's stock were exchanged, compared to its average volume of 81,566. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $25.39 billion, a P/E ratio of 9.71 and a beta of 0.86. First Citizens BancShares, Inc. has a 12 month low of $1,181.71 and a 12 month high of $1,810.03. The business's 50-day simple moving average is $1,652.27 and its two-hundred day simple moving average is $1,529.14.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, topping the consensus estimate of $44.27 by $8.65. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 188.62 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares's dividend payout ratio is currently 3.64%.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 1,000 shares of the firm's stock in a transaction on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the sale, the director now owns 2,335 shares of the company's stock, valued at $4,124,170.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the sale, the director now owns 2,335 shares of the company's stock, valued at approximately $4,124,170.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,600 shares of company stock worth $6,209,022. 13.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FCNCA. Piper Sandler downgraded First Citizens BancShares from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Monday, April 29th. DA Davidson reiterated a "neutral" rating and issued a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. UBS Group boosted their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a "buy" rating in a research report on Tuesday, January 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares has an average rating of "Moderate Buy" and an average target price of $1,829.90.

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.