Fjarde AP Fonden Fourth Swedish National Pension Fund Has $7.22 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,415 shares of the bank’s stock after purchasing an additional 100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in First Citizens BancShares were worth $7,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCNCA. Financial Life Planners acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management raised its holdings in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Mather Group LLC. raised its holdings in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Asset Planning Inc bought a new position in shares of First Citizens BancShares in the fourth quarter valued at $38,000. Finally, Brooklyn Investment Group bought a new position in shares of First Citizens BancShares in the third quarter valued at $39,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Finally, UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Down 1.2 %

FCNCA stock opened at $2,025.02 on Tuesday. 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 company has a fifty day moving average price of $2,143.81 and a two-hundred day moving average price of $2,072.26. First Citizens BancShares, Inc. has a one year low of $1,505.73 and a one year high of $2,412.93. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.39%. First Citizens BancShares’s payout ratio is presently 4.12%.

About First Citizens BancShares

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.