First Citizens BancShares, Inc. $FCNCA Shares Acquired by Swedbank AB

Swedbank AB lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,658 shares of the bank’s stock after acquiring an additional 125 shares during the period. Swedbank AB’s holdings in First Citizens BancShares were worth $5,200,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Reinhart Partners LLC. boosted its stake in shares of First Citizens BancShares by 4.2% during the second quarter. Reinhart Partners LLC. now owns 69,279 shares of the bank’s stock valued at $135,575,000 after acquiring an additional 2,820 shares during the last quarter. Pines Wealth Management LLC acquired a new stake in shares of First Citizens BancShares during the second quarter valued at $288,000. Harbor Capital Advisors Inc. boosted its stake in shares of First Citizens BancShares by 2.2% during the second quarter. Harbor Capital Advisors Inc. now owns 5,929 shares of the bank’s stock valued at $11,600,000 after acquiring an additional 128 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in First Citizens BancShares in the 2nd quarter worth about $205,000. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in First Citizens BancShares in the 1st quarter worth about $839,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 1.5%

Shares of FCNCA opened at $1,866.88 on Monday. 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 current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. The stock has a 50 day simple moving average of $1,972.51 and a 200-day simple moving average of $1,885.86. The stock has a market cap of $24.12 billion, a PE ratio of 11.02 and a beta of 0.71.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.21 billion. On average, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 29th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.60%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FCNCA. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the stock a “neutral” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup raised their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, UBS Group reissued a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,291.17.

Insider Activity

In other news, CEO Frank B. Holding, Jr. bought 600 shares of the stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the purchase, the chief executive officer owned 32,300 shares of the company’s stock, valued at approximately $54,869,625. This represents a 1.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Olivia Britton Holding bought 409 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the purchase, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,494 shares of company stock valued at $2,485,986. Company insiders own 13.19% of the company’s stock.

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.