First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,072 shares of the bank’s stock after purchasing an additional 400 shares during the period. Handelsbanken Fonder AB’s holdings in First Citizens BancShares were worth $6,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management increased its stake in shares of First Citizens BancShares by 60.0% in the 4th 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. Mather Group LLC. increased 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 valued at $38,000 after purchasing an additional 5 shares in the last quarter. Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $38,000. Finally, Brooklyn Investment Group purchased a new stake in First Citizens BancShares during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on FCNCA shares. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, JPMorgan Chase & Co. boosted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,049.25 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,500.94 and a 1 year high of $2,412.93. The firm has a market capitalization of $28.67 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The business has a 50 day simple moving average of $2,145.78 and a 200-day simple moving average of $2,070.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

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.