SEB Asset Management AB Takes $3.54 Million Position in First Citizens BancShares, Inc. $FCNCA

SEB Asset Management AB purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,878 shares of the bank’s stock, valued at approximately $3,539,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCNCA. Allworth Financial LP increased its holdings in 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 purchasing an additional 5 shares during the period. MBL Wealth LLC lifted its stake in 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 acquiring an additional 5 shares during the period. Venturi Wealth Management LLC grew its holdings in First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after acquiring an additional 6 shares in the last quarter. Corient Private Wealth LLC increased its position in First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 6 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in First Citizens BancShares by 3.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock valued at $519,000 after purchasing an additional 7 shares during the period. Institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of several research reports. Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a report on Wednesday, April 8th. Weiss Ratings raised shares of First Citizens BancShares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Fundamental Research set a $2,350.00 target price on First Citizens BancShares in a report on Wednesday, July 1st. Finally, Citigroup cut First Citizens BancShares from a “neutral” rating to a “market perform” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $2,247.08.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 528 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the acquisition, the chief executive officer directly owned 64,100 shares in the company, valued at $116,237,017. The trade was a 0.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 7,190 shares of company stock worth $12,573,868 in the last 90 days. 14.63% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 0.3%

Shares of FCNCA stock opened at $2,077.57 on Thursday. The stock’s fifty day moving average price is $2,053.95 and its 200 day moving average price is $2,016.98. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,232.21. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The company 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 period last year, the business posted $37.79 earnings per share. On average, research analysts expect that First Citizens BancShares, Inc. will post 177.18 earnings per share for the current fiscal year.

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.