North Dakota State Investment Board Makes New Investment in First Citizens BancShares, Inc. $FCNCA

North Dakota State Investment Board acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 335 shares of the bank’s stock, valued at approximately $719,000.

Several other hedge funds have also recently modified their holdings of FCNCA. SBI Securities Co. Ltd. bought a new position in shares of First Citizens BancShares in the third quarter valued at approximately $27,000. Harbor Investment Advisory LLC lifted its holdings in First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after acquiring an additional 9 shares during the period. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after acquiring an additional 8 shares during the period. Root Financial Partners LLC purchased a new position in First Citizens BancShares in the third quarter worth $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in First Citizens BancShares by 280.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares during the period. Institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of several research analyst reports. Weiss Ratings lowered First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2,215.91.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 5,940 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the purchase, the chief executive officer owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 6,198 shares of company stock valued at $10,661,547. 14.63% of the stock is currently owned by company insiders.

First Citizens BancShares Trading Up 0.8%

Shares of First Citizens BancShares stock opened at $1,989.48 on Friday. The stock has a market capitalization of $23.06 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.50 and a beta of 0.63. 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 debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $1,925.56 and its 200 day simple moving average is $1,985.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same quarter last year, the business earned $37.79 earnings per share. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.83%.

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.