Check Capital Management Inc. CA Has $83.05 Million Stake in First Citizens BancShares, Inc. $FCNCA

Check Capital Management Inc. CA boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,068 shares of the bank’s stock after buying an additional 1,280 shares during the quarter. First Citizens BancShares makes up about 2.4% of Check Capital Management Inc. CA’s portfolio, making the stock its 6th biggest position. Check Capital Management Inc. CA owned about 0.37% of First Citizens BancShares worth $83,054,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after acquiring an additional 5 shares in the last quarter. MBL Wealth LLC lifted its position in shares of First Citizens BancShares by 0.8% in the fourth quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after purchasing an additional 5 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of First Citizens BancShares by 2.6% in the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in First Citizens BancShares by 0.6% during the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after purchasing an additional 6 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in First Citizens BancShares by 3.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock worth $519,000 after purchasing an additional 7 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 0.6%

Shares of NASDAQ:FCNCA opened at $2,106.06 on Tuesday. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The company has a market capitalization of $24.41 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a 50-day simple moving average of $2,034.17 and a 200 day simple moving average of $2,020.98. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $37.79 earnings per share. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 177.18 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, May 29th. First Citizens BancShares’s dividend payout ratio is 4.83%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FCNCA shares. Citigroup lowered shares of First Citizens BancShares from a “neutral” rating to a “market perform” rating in a research note on Thursday. Fundamental Research set a $2,350.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 1st. The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. 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 research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded First Citizens BancShares from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2,247.08.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 528 shares of the business’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the acquisition, the chief executive officer directly owned 64,100 shares of the company’s stock, valued at $116,237,017. This trade represents a 0.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders acquired 7,190 shares of company stock worth $12,573,868. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares Profile

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.