First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,727 shares of the bank’s stock after purchasing an additional 17 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in First Citizens BancShares were worth $5,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FCNCA. Blue Trust Inc. grew its position in First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth $31,000. Lindbrook Capital LLC boosted its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth $35,000. Finally, Fred Alger Management LLC acquired a new position in shares of First Citizens BancShares during the 4th quarter worth $39,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.1 %

Shares of NASDAQ FCNCA traded up $17.49 on Wednesday, reaching $1,550.00. 57,842 shares of the company traded hands, compared to its average volume of 81,361. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,651.73. The company has a 50 day moving average of $1,561.43 and a 200 day moving average of $1,465.85. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $22.51 billion, a PE ratio of 1.98 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 178.72 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

Insider Activity

In related news, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the purchase, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding bought 466 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders purchased a total of 1,388 shares of company stock valued at $1,825,220 in the last 90 days. 12.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. DA Davidson reaffirmed a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday. Barclays initiated coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1,768.63.

About First Citizens BancShares

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.