Tredje AP fonden Has $12.75 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tredje AP fonden lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 444.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,034 shares of the bank's stock after purchasing an additional 4,925 shares during the quarter. Tredje AP fonden's holdings in First Citizens BancShares were worth $12,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Financial Life Planners bought a new position in First Citizens BancShares in the 4th quarter worth about $33,000. Hemington Wealth Management grew its holdings in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares in the 4th quarter valued at approximately $36,000. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares during the 4th quarter worth $38,000. Institutional investors own 78.01% of the company's stock.

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

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First Citizens BancShares Trading Down 0.1 %

Shares of First Citizens BancShares stock traded down $1.51 on Tuesday, reaching $1,835.15. 52,367 shares of the company were exchanged, compared to its average volume of 83,498. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two week high of $2,412.93. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. 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 stock has a fifty day moving average price of $2,071.82 and a 200-day moving average price of $2,060.21.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective on the stock. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. The Goldman Sachs Group decreased their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Finally, UBS Group began coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,288.08.

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.