First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Increased by Check Capital Management Inc. CA

Check Capital Management Inc. CA boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,259 shares of the bank’s stock after acquiring an additional 7,460 shares during the quarter. First Citizens BancShares accounts for approximately 1.4% of Check Capital Management Inc. CA’s holdings, making the stock its 10th largest position. Check Capital Management Inc. CA owned approximately 0.19% of First Citizens BancShares worth $38,680,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in First Citizens BancShares by 19.9% in the 1st quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock worth $1,970,000 after buying an additional 491 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in First Citizens BancShares in the 1st quarter worth approximately $207,000. US Bancorp DE lifted its holdings in First Citizens BancShares by 277.0% in the 1st quarter. US Bancorp DE now owns 475 shares of the bank’s stock worth $317,000 after purchasing an additional 349 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in First Citizens BancShares by 21.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock worth $341,000 after purchasing an additional 89 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in First Citizens BancShares in the 1st quarter worth approximately $162,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 622 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at $128,355,835. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders bought a total of 1,388 shares of company stock worth $1,825,220 over the last three months. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 1.0 %

Shares of NASDAQ FCNCA traded up $15.45 during mid-day trading on Friday, reaching $1,567.36. 65,459 shares of the company were exchanged, compared to its average volume of 80,946. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 1.98 and a beta of 0.89. First Citizens BancShares, Inc. has a 1 year low of $945.32 and a 1 year high of $1,651.73. The firm has a 50-day moving average of $1,562.91 and a 200 day moving average of $1,466.44.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. On average, research analysts expect that First Citizens BancShares, Inc. will post 177.19 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s payout ratio is 0.84%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FCNCA shares. Barclays started coverage on First Citizens BancShares in a report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective on the stock. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. DA Davidson reissued a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. Finally, UBS Group boosted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Hold” and an average target price of $1,768.63.

First Citizens BancShares Company 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.