Check Capital Management Inc. CA Has $71 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Check Capital Management Inc. CA boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,599 shares of the bank's stock after purchasing an additional 5,605 shares during the quarter. First Citizens BancShares comprises 2.1% of Check Capital Management Inc. CA's holdings, making the stock its 6th biggest position. Check Capital Management Inc. CA owned approximately 0.24% of First Citizens BancShares worth $70,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after buying an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock valued at $115,859,000 after acquiring an additional 30,828 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank's stock valued at $440,580,000 after acquiring an additional 23,919 shares in the last quarter. Commerce Bank increased its stake in shares of First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank's stock valued at $39,295,000 after acquiring an additional 20,906 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in First Citizens BancShares by 337.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock worth $48,095,000 after purchasing an additional 20,149 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.4 %

NASDAQ:FCNCA traded down $8.73 on Wednesday, hitting $2,156.78. 51,428 shares of the company's stock traded hands, compared to its average volume of 67,941. The firm has a 50-day moving average price of $2,145.69 and a 200-day moving average price of $2,068.13. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $30.17 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a 1 year low of $1,475.85 and a 1 year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares's dividend payout ratio (DPR) is 4.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FCNCA. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target on the stock. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Finally, Barclays increased their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,323.50.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.