Bronte Capital Management Pty Ltd. Has $37.02 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bronte Capital Management Pty Ltd. cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,090 shares of the bank’s stock after selling 157 shares during the period. First Citizens BancShares accounts for about 3.5% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 12th biggest holding. Bronte Capital Management Pty Ltd. owned 0.18% of First Citizens BancShares worth $37,021,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of First Citizens BancShares by 756.8% in the third quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock valued at $53,046,000 after purchasing an additional 33,950 shares during the period. FMR LLC grew its position in shares of First Citizens BancShares by 17.2% in the third quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after purchasing an additional 27,729 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after purchasing an additional 23,156 shares during the period. International Assets Investment Management LLC bought a new stake in First Citizens BancShares in the 4th quarter valued at $26,176,000. Finally, Vanguard Group Inc. grew its holdings in First Citizens BancShares by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,010,749 shares of the bank’s stock valued at $1,394,935,000 after buying an additional 17,142 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Insiders Place Their Bets

In other First Citizens BancShares news, Director Ellen R. Alemany sold 516 shares of First Citizens BancShares stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director now owns 819 shares of the company’s stock, valued at approximately $1,433,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Alemany sold 516 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director now directly owns 819 shares of the company’s stock, valued at approximately $1,433,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,388 shares of company stock worth $1,825,220 and have sold 3,116 shares worth $5,361,964. Company insiders own 12.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCNCA. DA Davidson reaffirmed a “neutral” rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. UBS Group increased their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $2,100.00 price target (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. Finally, Barclays boosted their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock traded up $1.00 on Thursday, reaching $1,732.92. 66,458 shares of the company traded hands, compared to its average volume of 82,098. The company has a 50 day moving average of $1,609.57 and a 200 day moving average of $1,500.38. First Citizens BancShares, Inc. has a 52 week low of $1,150.00 and a 52 week high of $1,810.03. The firm has a market capitalization of $25.17 billion, a PE ratio of 9.69 and a beta of 0.86. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $1.64 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio is 3.64%.

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.