Andra AP fonden Acquires 1,200 Shares of First Citizens BancShares, Inc. $FCNCA

Andra AP fonden grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 48.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the bank’s stock after acquiring an additional 1,200 shares during the period. Andra AP fonden’s holdings in First Citizens BancShares were worth $6,620,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares during the 3rd quarter valued at $27,000. UMB Bank n.a. increased its position in First Citizens BancShares by 100.0% during the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after buying an additional 8 shares in the last quarter. Steph & Co. purchased a new stake in First Citizens BancShares in the third quarter valued at about $32,000. Root Financial Partners LLC acquired a new stake in First Citizens BancShares in the third quarter worth about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,898.15 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The stock’s 50-day moving average price is $2,102.42 and its 200-day moving average price is $1,956.50. The stock has a market capitalization of $23.61 billion, a PE ratio of 11.45 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating the consensus estimate of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.07%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Barclays dropped their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. TD Cowen decreased their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Truist Financial upped their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,238.27.

First Citizens BancShares 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.