7,100 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,100 shares of the bank's stock, valued at approximately $15,002,000. KLP Kapitalforvaltning AS owned 0.05% of First Citizens BancShares at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in First Citizens BancShares during the fourth quarter valued at $36,000. Mather Group LLC. grew its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock traded down $44.97 during trading on Friday, reaching $1,835.10. The company had a trading volume of 77,972 shares, compared to its average volume of 86,054. The firm has a market capitalization of $24.92 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The firm's 50-day simple moving average is $2,025.58 and its 200 day simple moving average is $2,052.31. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 1-year low of $1,518.00 and a 1-year high of $2,412.93.

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First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) 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%. As a group, equities research analysts anticipate 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 was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's payout ratio is presently 4.12%.

Wall Street Analyst Weigh In

Several research firms recently commented on FCNCA. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 target price on the stock. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Barclays lifted their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group dropped their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,288.08.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Profile

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.