United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires Shares of 2,435 First Citizens BancShares, Inc. $FCNCA

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,435 shares of the bank’s stock, valued at approximately $5,226,000.

A number of other hedge funds have also recently bought and sold shares of FCNCA. Northwestern Mutual Wealth Management Co. grew its stake in First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after purchasing an additional 205,658 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in First Citizens BancShares by 2,057.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock worth $92,944,000 after buying an additional 45,304 shares during the last quarter. M&T Bank Corp lifted its holdings in First Citizens BancShares by 13,512.7% during the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock worth $82,679,000 after buying an additional 38,241 shares during the last quarter. UBS Group AG lifted its holdings in First Citizens BancShares by 96.7% during the 4th quarter. UBS Group AG now owns 69,551 shares of the bank’s stock worth $149,269,000 after buying an additional 34,184 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in First Citizens BancShares by 57.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock worth $164,247,000 after buying an additional 27,789 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. sold 5,346 shares of First Citizens BancShares stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the sale, the chief executive officer owned 100,654 shares of the company’s stock, valued at $193,123,823.26. The trade was a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders acquired 6,198 shares of company stock worth $10,661,547. 14.63% of the stock is owned by insiders.

First Citizens BancShares Stock Down 0.9%

Shares of First Citizens BancShares stock opened at $1,990.51 on Friday. The business’s fifty day moving average price is $1,949.40 and its two-hundred day moving average price is $1,992.23. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $23.06 billion, a P/E ratio of 11.45, a PEG ratio of 1.53 and a beta of 0.63. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same quarter in the previous year, the business earned $37.79 EPS. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.83%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a report on Wednesday, April 8th. Keefe, Bruyette & Woods reduced their target price on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. TD Cowen reduced their target price on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2,215.91.

Read Our Latest Stock Analysis on First Citizens BancShares

About First Citizens BancShares

(Free Report)

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

Further Reading

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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