Kirkoswald Asset Management LLC Buys Shares of 10,800 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kirkoswald Asset Management LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,800 shares of the bank’s stock, valued at approximately $22,821,000. First Citizens BancShares accounts for approximately 26.4% of Kirkoswald Asset Management LLC’s holdings, making the stock its 2nd largest holding.

Several other institutional investors have also made changes to their positions in FCNCA. KLP Kapitalforvaltning AS acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at $15,002,000. Sei Investments Co. raised its holdings in First Citizens BancShares by 69.6% during the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank’s stock valued at $6,404,000 after buying an additional 1,244 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of First Citizens BancShares by 16.4% during the 4th quarter. American Century Companies Inc. now owns 13,005 shares of the bank’s stock worth $27,480,000 after acquiring an additional 1,829 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of First Citizens BancShares by 4.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,586 shares of the bank’s stock valued at $5,464,000 after acquiring an additional 106 shares during the last quarter. Finally, Holderness Investments Co. raised its stake in shares of First Citizens BancShares by 5.3% in the 4th quarter. Holderness Investments Co. now owns 638 shares of the bank’s stock valued at $1,348,000 after acquiring an additional 32 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Up 0.4 %

FCNCA opened at $1,851.20 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $2,052.67 and its two-hundred day moving average price is $2,054.85. The company has a market capitalization of $25.13 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FCNCA. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group cut their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group started coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Finally, Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average price target of $2,288.08.

First Citizens BancShares Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.