Avanza Fonder AB Purchases Shares of 407 First Citizens BancShares, Inc. $FCNCA

Avanza Fonder AB acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 407 shares of the bank’s stock, valued at approximately $873,000.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP grew its position in First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after acquiring an additional 5 shares during the last quarter. Alteri Wealth LLC lifted its position in First Citizens BancShares by 4.1% in the third quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock valued at $276,000 after purchasing an additional 6 shares during the last quarter. Fifth Third Bancorp lifted its position in First Citizens BancShares by 40.0% in the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of First Citizens BancShares by 0.6% during the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 6 shares during the period. Finally, Greenleaf Trust boosted its stake in shares of First Citizens BancShares by 2.0% during the third quarter. Greenleaf Trust now owns 416 shares of the bank’s stock valued at $744,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Activity

In related news, CEO Frank B. Holding, Jr. purchased 134 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $1,550.00 per share, with a total value of $207,700.00. Following the completion of the purchase, the chief executive officer directly owned 2,749 shares in the company, valued at approximately $4,260,950. This represents a 5.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought a total of 258 shares of company stock worth $404,236 in the last 90 days. 13.19% of the stock is owned by insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,857.42 on Wednesday. The stock has a fifty day moving average of $1,997.56 and a 200 day moving average of $1,944.94. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 11.21 and a beta of 0.68. 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 (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $2.10 per share. The ex-dividend date was Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.5%. First Citizens BancShares’s payout ratio is currently 5.07%.

Analyst Upgrades and Downgrades

FCNCA has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. 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 on the stock in a research report on Monday, January 26th. Barclays lowered their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. Finally, Truist Financial increased their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.