Nykredit A S Invests $4.36 Million in First Citizens BancShares, Inc. $FCNCA

Nykredit A S purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,094 shares of the bank’s stock, valued at approximately $4,357,000.

A number of other hedge funds have also recently modified their holdings of FCNCA. Venturi Wealth Management LLC raised its stake in First Citizens BancShares by 2.6% during the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares during the period. Corient Private Wealth LLC grew its stake in shares of First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares during the period. Parallel Advisors LLC grew its stake in shares of First Citizens BancShares by 8.0% in the 4th quarter. Parallel Advisors LLC now owns 95 shares of the bank’s stock valued at $204,000 after buying an additional 7 shares during the period. Principal Securities Inc. increased its holdings in shares of First Citizens BancShares by 2.9% during the 4th quarter. Principal Securities Inc. now owns 251 shares of the bank’s stock worth $539,000 after buying an additional 7 shares during the last quarter. Finally, Cooper Financial Group raised its position in shares of First Citizens BancShares by 6.5% during the 2nd quarter. Cooper Financial Group now owns 131 shares of the bank’s stock valued at $273,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,208.49 on Monday. The company has a market capitalization of $24.93 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,296.30. The firm has a 50 day moving average price of $2,160.88 and a 200 day moving average price of $2,036.67.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. Research analysts expect that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is 4.49%.

Analyst Ratings Changes

A number of research firms recently commented on FCNCA. Truist Financial upped their price objective on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Piper Sandler upped their price target on First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus price target of $2,278.31.

Insider Buying and Selling

In other news, Director Diane Morais bought 50 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the transaction, the director directly owned 100 shares in the company, valued at $216,811. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.63% of the stock is owned by company insiders.

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.