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

Check Capital Management Inc. CA lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,259 shares of the bank’s stock after acquiring an additional 7,460 shares during the quarter. First Citizens BancShares accounts for about 1.4% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 10th biggest position. Check Capital Management Inc. CA’s holdings in First Citizens BancShares were worth $38,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCNCA. Blue Trust Inc. increased its holdings in First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares during the last quarter. Castleview Partners LLC bought a new stake in First Citizens BancShares in the second quarter valued at about $31,000. Lindbrook Capital LLC grew its holdings in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $35,000. Finally, Fred Alger Management LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $39,000. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

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

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

First Citizens BancShares Dividend Announcement

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

Insider Activity

In related news, insider Hope Holding Bryant acquired 300 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the transaction, the insider now owns 1,978 shares of the company’s stock, valued at $2,601,070. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the purchase, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following 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. In the last 90 days, insiders purchased 1,388 shares of company stock worth $1,825,220. Insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several analyst reports. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Barclays initiated coverage on First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective for the company. UBS Group boosted their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Wedbush reiterated an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.