Check Capital Management Inc. CA Has $51.54 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Check Capital Management Inc. CA boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,994 shares of the bank’s stock after acquiring an additional 29 shares during the period. First Citizens BancShares accounts for about 1.6% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 8th largest position. Check Capital Management Inc. CA owned about 0.19% of First Citizens BancShares worth $51,535,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FCNCA. Covestor Ltd grew its holdings in First Citizens BancShares by 2.9% during the 1st quarter. Covestor Ltd now owns 215 shares of the bank’s stock valued at $352,000 after buying an additional 6 shares in the last quarter. Wedbush Securities Inc. grew its stake in First Citizens BancShares by 0.5% during the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock valued at $2,019,000 after acquiring an additional 6 shares in the last quarter. Metis Global Partners LLC increased its holdings in First Citizens BancShares by 4.9% in the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after acquiring an additional 6 shares during the last quarter. HB Wealth Management LLC lifted its stake in First Citizens BancShares by 3.9% in the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after purchasing an additional 7 shares in the last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in shares of First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after purchasing an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FCNCA shares. Keefe, Bruyette & Woods boosted their target price on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler upped their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,025.90.

First Citizens BancShares Stock Down 0.5 %

Shares of NASDAQ FCNCA opened at $2,152.02 on Friday. The company has a market cap of $31.14 billion, a P/E ratio of 12.33 and a beta of 0.80. The firm has a 50-day simple moving average of $1,967.24 and a two-hundred day simple moving average of $1,867.87. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,275.90. 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 posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm earned $55.92 EPS. Research analysts anticipate that First Citizens BancShares, Inc. will post 189.06 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is currently 3.76%.

First Citizens BancShares announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the bank to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.