AustralianSuper Pty Ltd Buys Shares of 3,759 First Citizens BancShares, Inc. $FCNCA

AustralianSuper Pty Ltd bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,759 shares of the bank’s stock, valued at approximately $7,354,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at $35,000. Wayfinding Financial LLC bought a new stake in shares of First Citizens BancShares in the 1st quarter valued at $64,000. Brooklyn Investment Group increased its position in shares of First Citizens BancShares by 32.1% in the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after buying an additional 9 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of First Citizens BancShares by 32.5% in the 2nd quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock valued at $104,000 after buying an additional 13 shares in the last quarter. Finally, State of Wyoming increased its position in shares of First Citizens BancShares by 15.8% in the 1st quarter. State of Wyoming now owns 66 shares of the bank’s stock valued at $122,000 after buying an additional 9 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 600 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,698.75 per share, for a total transaction of $1,019,250.00. Following the purchase, the chief executive officer directly owned 32,300 shares in the company, valued at approximately $54,869,625. This represents a 1.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Olivia Britton Holding acquired 409 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the purchase, the insider owned 1,764 shares in the company, valued at approximately $2,875,320. The trade was a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,428 shares of company stock worth $2,371,476 in the last three months. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,786.10 on Tuesday. The firm has a market cap of $23.08 billion, a PE ratio of 10.56 and a beta of 0.60. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a fifty day moving average price of $1,857.30 and a 200 day moving average price of $1,884.71.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.97%.

Analyst Ratings Changes

A number of analysts recently commented on FCNCA shares. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Piper Sandler lowered their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial lowered their price objective on shares of First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating for the company in a research report on Friday, October 3rd. Raymond James Financial set a $2,100.00 price objective on shares of First Citizens BancShares in a research report on Tuesday, October 7th. Finally, Cowen restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,166.67.

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.