Alberta Investment Management Corp Has $58.11 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Alberta Investment Management Corp raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 14.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,476 shares of the bank’s stock after purchasing an additional 4,100 shares during the quarter. First Citizens BancShares makes up about 0.6% of Alberta Investment Management Corp’s portfolio, making the stock its 11th biggest holding. Alberta Investment Management Corp’s holdings in First Citizens BancShares were worth $58,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in First Citizens BancShares during the 2nd quarter valued at $177,604,000. Orion Porfolio Solutions LLC increased its stake 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 acquiring an additional 45,304 shares during the period. Allspring Global Investments Holdings LLC raised its stake in First Citizens BancShares by 390.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after purchasing an additional 38,446 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $46,540,000. Finally, JPMorgan Chase & Co. lifted its stake in First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 135 shares of the stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the acquisition, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Up 3.5%

NASDAQ:FCNCA opened at $2,060.02 on Thursday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $25.63 billion, a PE ratio of 12.43 and a beta of 0.70. The firm’s 50 day simple moving average is $2,117.51 and its 200 day simple moving average is $1,950.02.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

Analyst Ratings Changes

A number of research firms have issued reports on FCNCA. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Keefe, Bruyette & Woods lowered their price objective on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Zacks Research downgraded shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. Finally, The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

About First Citizens BancShares

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.