IFM Investors Pty Ltd Buys Shares of 2,260 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

IFM Investors Pty Ltd purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,260 shares of the bank’s stock, valued at approximately $3,695,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in First Citizens BancShares during the 4th quarter valued at $180,039,000. Wellington Management Group LLP boosted its stake in shares of First Citizens BancShares by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after acquiring an additional 41,793 shares during the last quarter. AQR Capital Management LLC increased its position in First Citizens BancShares by 756.8% during the 3rd quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock worth $53,046,000 after purchasing an additional 33,950 shares in the last quarter. FMR LLC raised its stake in First Citizens BancShares by 17.2% in the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after purchasing an additional 27,729 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in First Citizens BancShares by 130.1% in the 4th quarter. Point72 Asset Management L.P. now owns 46,180 shares of the bank’s stock valued at $65,528,000 after purchasing an additional 26,107 shares during the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded down $45.85 during trading on Friday, reaching $1,754.50. 107,438 shares of the company’s stock traded hands, compared to its average volume of 74,173. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,810.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50 day moving average of $1,582.88 and a 200-day moving average of $1,480.23. The stock has a market capitalization of $25.48 billion, a P/E ratio of 9.74 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. On average, equities analysts expect that First Citizens BancShares, Inc. will post 179.92 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $1.64 dividend. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares’s payout ratio is currently 3.64%.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 466 shares of the business’s stock in a transaction on 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 purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 622 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,388 shares of company stock valued at $1,825,220. Insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several analyst reports. Barclays raised their price target on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday. The Goldman Sachs Group began coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target for the company. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Finally, Wedbush reiterated 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1,829.90.

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.