Check Capital Management Inc. CA Has $83.05 Million Stock Position in First Citizens BancShares, Inc. $FCNCA

Check Capital Management Inc. CA grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,068 shares of the bank’s stock after purchasing an additional 1,280 shares during the quarter. First Citizens BancShares comprises approximately 2.4% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 6th biggest position. Check Capital Management Inc. CA’s holdings in First Citizens BancShares were worth $83,054,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FCNCA. Northwestern Mutual Wealth Management Co. lifted its holdings in First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after purchasing an additional 205,658 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in First Citizens BancShares by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 124,061 shares of the bank’s stock valued at $266,273,000 after buying an additional 492 shares in the last quarter. Morgan Stanley increased its position in First Citizens BancShares by 31.8% during the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock worth $264,087,000 after buying an additional 29,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock worth $262,514,000 after buying an additional 12,303 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after buying an additional 10,948 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCNCA. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a research report on Thursday, July 9th. Citigroup lowered shares of First Citizens BancShares from a “neutral” rating to a “market perform” rating in a research report on Thursday. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Fundamental Research set a $2,350.00 price objective on shares of First Citizens BancShares in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2,247.08.

Insider Activity

In other news, CEO Frank B. Holding, Jr. acquired 528 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the purchase, the chief executive officer directly owned 64,100 shares of the company’s stock, valued at $116,237,017. The trade was a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have purchased 7,190 shares of company stock worth $12,573,868. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares Trading Up 0.6%

FCNCA opened at $2,106.06 on Tuesday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The company has a 50-day simple moving average of $2,034.17 and a 200 day simple moving average of $2,020.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm earned $37.79 EPS. Analysts predict that First Citizens BancShares, Inc. will post 177.18 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $2.10 per share. The ex-dividend date was Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.83%.

First Citizens BancShares Company 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.