First Citizens BancShares, Inc. $FCNCA Stock Bought by North Dakota State Investment Board

North Dakota State Investment Board boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 492 shares of the bank’s stock after buying an additional 232 shares during the period. North Dakota State Investment Board’s holdings in First Citizens BancShares were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCNCA. North Star Investment Management Corp. lifted its position in First Citizens BancShares by 10.0% during the third quarter. North Star Investment Management Corp. now owns 66 shares of the bank’s stock valued at $135,000 after purchasing an additional 6 shares during the period. Peterson Wealth Services boosted its holdings in First Citizens BancShares by 2.7% in the third quarter. Peterson Wealth Services now owns 380 shares of the bank’s stock valued at $782,000 after purchasing an additional 10 shares during the last quarter. Viewpoint Investment Partners Corp grew its position in First Citizens BancShares by 100.0% during the 3rd quarter. Viewpoint Investment Partners Corp now owns 200 shares of the bank’s stock worth $412,000 after purchasing an additional 100 shares during the period. Hedeker Wealth LLC grew its position in First Citizens BancShares by 3.1% during the 3rd quarter. Hedeker Wealth LLC now owns 235 shares of the bank’s stock worth $484,000 after purchasing an additional 7 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its position in First Citizens BancShares by 2.9% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 250 shares of the bank’s stock worth $515,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $19.53, for a total transaction of $136,710.00. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at $292,950. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane E. Morais purchased 50 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the purchase, the director owned 100 shares in the company, valued at approximately $216,811. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 14.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FCNCA. Weiss Ratings upgraded First Citizens BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. TD Cowen lifted their price target on First Citizens BancShares from $2,430.00 to $2,730.00 and gave the company a “buy” rating in a research report on Monday, October 26th. UBS Group reissued a “neutral” rating and issued a $2,475.00 price target on shares of First Citizens BancShares in a report on Monday, October 26th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $2,550.00 price objective on shares of First Citizens BancShares in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2,355.31.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,352.64 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $2,150.18 and its two-hundred day moving average is $2,064.76. The firm has a market capitalization of $26.56 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.22 and a beta of 0.58. First Citizens BancShares, Inc. has a fifty-two week low of $1,759.27 and a fifty-two week high of $2,429.96.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, October 23rd. The bank reported $55.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $46.18 by $9.19. First Citizens BancShares had a return on equity of 12.49% and a net margin of 16.54%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.23 billion. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 201.38 earnings per share for the current year.

First Citizens BancShares announced that its board has approved a stock buyback plan on Friday, October 23rd that permits the company to buy back $1.20 billion in outstanding shares. This buyback authorization permits the bank to buy up to 4.5% of its stock through open market purchases. Share buyback plans are generally a sign that the company’s board believes its shares are undervalued.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $2.25 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $2.10. This represents a $9.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 30th. First Citizens BancShares’s payout ratio is currently 4.30%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is a bank holding company headquartered in Raleigh, North Carolina. Its principal subsidiary, First-Citizens Bank & Trust Company, provides banking and financial services to individuals, businesses, and institutions through a network of branches and digital banking channels.

The bank offers deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, equipment finance, treasury management, and payment services.