PBU The Pension Fund of Early Childhood & Youth Educators Acquires New Shares in First Citizens BancShares, Inc. $FCNCA

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,138 shares of the bank’s stock, valued at approximately $6,735,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in First Citizens BancShares in the 4th quarter worth about $236,000. Parallel Advisors LLC increased its holdings in First Citizens BancShares by 8.0% in the 4th quarter. Parallel Advisors LLC now owns 95 shares of the bank’s stock worth $204,000 after purchasing an additional 7 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in First Citizens BancShares by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,219 shares of the bank’s stock worth $4,763,000 after purchasing an additional 148 shares in the last quarter. Cibc World Market Inc. increased its holdings in First Citizens BancShares by 68.1% in the 4th quarter. Cibc World Market Inc. now owns 269 shares of the bank’s stock worth $577,000 after purchasing an additional 109 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in First Citizens BancShares by 8.9% in the 4th quarter. Lido Advisors LLC now owns 184 shares of the bank’s stock worth $395,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the transaction, the chief executive officer owned 38,111 shares in the company, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders bought 6,187 shares of company stock worth $10,640,161. 14.63% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 1.4%

Shares of FCNCA opened at $2,075.10 on Friday. The company has a market capitalization of $24.05 billion, a PE ratio of 11.93, a PEG ratio of 1.58 and a beta of 0.62. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,232.21. The stock’s 50-day moving average price is $1,965.38 and its two-hundred day moving average price is $1,998.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $37.79 EPS. On average, analysts anticipate that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $2.10 per share. 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 payout ratio is presently 4.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Keefe, Bruyette & Woods cut their price target on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. TD Cowen cut their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2,215.91.

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.