Freemont Management S.A. Has $1.93 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Freemont Management S.A. grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 800.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 900 shares of the bank’s stock after buying an additional 800 shares during the quarter. Freemont Management S.A.’s holdings in First Citizens BancShares were worth $1,932,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of First Citizens BancShares in the 3rd quarter worth about $27,000. Harbor Investment Advisory LLC grew its holdings in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of First Citizens BancShares in the 3rd quarter worth about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 worth $34,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 5,940 shares of First Citizens BancShares stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $1,726.82 per share, with a total value of $10,257,310.80. Following the purchase, the chief executive officer owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 6,198 shares of company stock valued at $10,661,547. 14.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FCNCA shares. Truist Financial upped their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a report on Wednesday, April 8th. Weiss Ratings lowered shares of First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday. Finally, Piper Sandler set a $2,050.00 target price 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 given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2,202.08.

First Citizens BancShares Stock Down 0.5%

Shares of NASDAQ:FCNCA opened at $1,909.53 on Thursday. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,232.21. The company’s 50-day moving average price is $1,923.63 and its two-hundred day moving average price is $1,978.70. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The firm has a market cap of $22.80 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.48 and a beta of 0.63.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $37.79 EPS. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 176.04 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

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

First Citizens BancShares Company 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.