Handelsbanken Fonder AB Purchases 400 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Handelsbanken Fonder AB boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,072 shares of the bank's stock after buying an additional 400 shares during the period. Handelsbanken Fonder AB's holdings in First Citizens BancShares were worth $6,491,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. Mather Group LLC. raised its position in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Asset Planning Inc bought a new stake in shares of First Citizens BancShares during the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new position in First Citizens BancShares in the 3rd quarter valued at approximately $39,000. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of FCNCA stock traded up $30.67 during trading hours on Wednesday, hitting $2,024.41. 52,772 shares of the company were exchanged, compared to its average volume of 66,368. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 0.94 and a beta of 0.85. 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 firm has a fifty day simple moving average of $2,141.51 and a 200 day simple moving average of $2,072.39. First Citizens BancShares, Inc. has a 52-week low of $1,505.73 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results 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 return on equity of 13.22% and a net margin of 18.55%. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share 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 given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.39%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of analyst reports. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Truist Financial raised their price target on shares of 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. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. 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 research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.