First Citizens BancShares, Inc. $FCNCA Stake Boosted by Check Capital Management Inc. CA

Check Capital Management Inc. CA boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,788 shares of the bank’s stock after purchasing an additional 7,424 shares during the period. First Citizens BancShares comprises 2.7% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 6th largest position. Check Capital Management Inc. CA’s holdings in First Citizens BancShares were worth $91,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FCNCA. Goldman Sachs Group Inc. increased its stake in First Citizens BancShares by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after purchasing an additional 681 shares during the period. Empowered Funds LLC increased its stake in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after purchasing an additional 164 shares during the period. Focus Partners Wealth increased its stake in First Citizens BancShares by 5.2% in the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after purchasing an additional 12 shares during the period. EverSource Wealth Advisors LLC increased its stake in First Citizens BancShares by 31.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock worth $172,000 after purchasing an additional 21 shares during the period. Finally, Flow Traders U.S. LLC purchased a new position in First Citizens BancShares in the 2nd quarter worth approximately $260,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FCNCA shares. TD Cowen reduced their target price on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a research note on Wednesday, February 4th. Weiss Ratings cut First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2,215.91.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at $193,123,823.26. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 6,198 shares of company stock valued at $10,661,547 over the last 90 days. 14.63% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,972.77 on Thursday. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.47 and a beta of 0.63. The business’s fifty day moving average is $1,924.02 and its 200 day moving average is $1,984.52. 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping the consensus estimate of $43.31 by $1.55. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same period in the prior year, the firm earned $37.79 earnings per share. Research analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

About First Citizens BancShares

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.