Nykredit A S Makes New $4.36 Million Investment in First Citizens BancShares, Inc. $FCNCA

Nykredit A S acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, Holdings Channel reports. The institutional investor acquired 2,094 shares of the bank’s stock, valued at approximately $4,357,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares in the last quarter. Corient Private Wealth LLC raised its position in 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 purchasing an additional 6 shares in the last quarter. Parallel Advisors LLC boosted 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. boosted its stake in shares of First Citizens BancShares by 2.9% in the 4th quarter. Principal Securities Inc. now owns 251 shares of the bank’s stock valued at $539,000 after buying an additional 7 shares during the period. Finally, Cooper Financial Group grew its position in shares of First Citizens BancShares by 6.5% during the second quarter. Cooper Financial Group now owns 131 shares of the bank’s stock worth $273,000 after buying an additional 8 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on FCNCA shares. Fundamental Research set a $2,350.00 target price on shares of First Citizens BancShares in a research note on Wednesday, July 1st. The Goldman Sachs Group boosted their price target on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a research report on Thursday, July 9th. Finally, Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and an average target price of $2,278.31.

Insider Transactions at First Citizens BancShares

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

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,208.49 on Monday. The firm has a market capitalization of $24.93 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.67 and a beta of 0.60. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,296.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $2,160.88 and its two-hundred day moving average is $2,036.67.

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

First Citizens BancShares Dividend Announcement

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

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.