North Dakota State Investment Board Buys Shares of 335 First Citizens BancShares, Inc. $FCNCA

North Dakota State Investment Board bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 335 shares of the bank’s stock, valued at approximately $719,000.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $27,000. UMB Bank n.a. grew its position in shares of First Citizens BancShares by 100.0% during the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after buying an additional 8 shares during the period. Root Financial Partners LLC acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $32,000. Harbor Investment Advisory LLC grew its position in shares of First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after buying an additional 9 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Barclays reduced their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a research report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and an average target price of $2,215.91.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,989.48 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The business’s fifty day moving average is $1,925.56 and its 200 day moving average is $1,985.68. 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 cap of $23.06 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.50 and a beta of 0.63.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $37.79 EPS. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of the 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 completion of the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 6,198 shares of company stock worth $10,661,547 in the last ninety days. Corporate insiders own 14.63% of the company’s stock.

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.