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

Handelsbanken Fonder AB grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 15.0% during the fourth quarter, according to its most recent Form 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 SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares during the period. Mather Group LLC. increased its position in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the period. Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth $38,000. Finally, Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares during the third quarter worth $39,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCNCA shares. Piper Sandler upped their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. The Goldman Sachs Group upped 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 report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Truist Financial upped 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 report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,049.25 on Friday. 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’s fifty day moving average price is $2,145.78 and its 200 day moving average price is $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, Inc. has a 12 month low of $1,500.94 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

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.