National Pension Service Raises Stock Position in First Citizens BancShares, Inc. $FCNCA

National Pension Service grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 27.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,051 shares of the bank’s stock after acquiring an additional 663 shares during the period. National Pension Service’s holdings in First Citizens BancShares were worth $5,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FCNCA. Norges Bank purchased a new position in First Citizens BancShares in the 2nd quarter worth approximately $177,604,000. Orion Porfolio Solutions LLC raised its position in shares of First Citizens BancShares by 2,057.4% during the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after buying an additional 45,304 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of First Citizens BancShares by 390.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after buying an additional 38,446 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of First Citizens BancShares in the third quarter worth $46,540,000. Finally, JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock worth $816,022,000 after acquiring an additional 15,921 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCNCA. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. UBS Group reaffirmed a “buy” rating and issued a $2,500.00 target price on shares of First Citizens BancShares in a report on Tuesday, January 6th. Piper Sandler boosted their target price on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Finally, The Goldman Sachs Group cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,254.18.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the purchase, the chief executive officer directly owned 2,527 shares in the company, valued at approximately $4,118,176.09. This trade represents a 5.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen R. Alemany bought 300 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director owned 300 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.19% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,043.97 on Wednesday. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,237.50. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $2,086.64 and a 200-day moving average price of $1,947.88. The firm has a market capitalization of $25.43 billion, a PE ratio of 12.33 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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

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.