First Citizens BancShares, Inc. $FCNCA Stake Lessened by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 24.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,472 shares of the bank’s stock after selling 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in First Citizens BancShares were worth $4,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Cresset Asset Management LLC lifted its stake in First Citizens BancShares by 3.8% in the 1st quarter. Cresset Asset Management LLC now owns 163 shares of the bank’s stock worth $302,000 after acquiring an additional 6 shares in the last quarter. Allworth Financial LP increased its holdings in shares of First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after purchasing an additional 6 shares during the period. US Bancorp DE lifted its position in shares of First Citizens BancShares by 0.8% in the second quarter. US Bancorp DE now owns 873 shares of the bank’s stock worth $1,708,000 after purchasing an additional 7 shares in the last quarter. Cooper Financial Group boosted its holdings in shares of First Citizens BancShares by 5.5% during the first quarter. Cooper Financial Group now owns 154 shares of the bank’s stock worth $286,000 after purchasing an additional 8 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of First Citizens BancShares by 0.5% during the first quarter. Voya Investment Management LLC now owns 1,668 shares of the bank’s stock worth $3,093,000 after purchasing an additional 8 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.7%

FCNCA stock opened at $1,855.58 on Tuesday. The firm has a market cap of $23.08 billion, a PE ratio of 10.97 and a beta of 0.75. 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 fifty day simple moving average of $1,796.61 and a 200 day simple moving average of $1,894.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, beating the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%.The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.21 billion. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $2.10 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. This represents a $8.40 annualized dividend and a yield of 0.5%. First Citizens BancShares’s dividend payout ratio is presently 4.97%.

Insider Transactions at First Citizens BancShares

In related news, Director Ellen R. Alemany bought 300 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director directly owned 300 shares of the company’s stock, valued at $300,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on FCNCA. Citigroup dropped their price objective on shares of First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Cowen restated a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. UBS Group increased their price objective on First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group reduced their price objective on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Piper Sandler dropped their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,165.83.

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.