SouthState Corp Buys Shares of 3,149 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SouthState Corp bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,149 shares of the bank’s stock, valued at approximately $4,468,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FCNCA. AQR Capital Management LLC raised its stake in First Citizens BancShares by 756.8% in the 3rd quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock worth $53,046,000 after acquiring an additional 33,950 shares during the last quarter. FMR LLC raised its stake in shares of First Citizens BancShares by 17.2% during the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after buying an additional 27,729 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of First Citizens BancShares by 3,091.6% during the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock valued at $34,203,000 after buying an additional 23,156 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at about $26,176,000. Finally, Vanguard Group Inc. raised its stake in shares of First Citizens BancShares by 1.7% during 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 during the last quarter. Institutional investors own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays raised their target price on 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective on the stock. Finally, UBS Group boosted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and six have assigned 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 $1,829.90.

Insider Buying and Selling

In related news, major shareholder Olivia Britton Holding acquired 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 466 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the acquisition, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the completion of the sale, the director now directly owns 1,335 shares of the company’s stock, valued at $2,345,955.45. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,388 shares of company stock worth $1,825,220 and sold 2,600 shares worth $4,458,964. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 2.2 %

NASDAQ FCNCA traded up $37.51 on Thursday, reaching $1,713.50. The stock had a trading volume of 90,139 shares, compared to its average volume of 82,832. The stock has a fifty day moving average price of $1,593.32 and a two-hundred day moving average price of $1,487.76. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 9.44 and a beta of 0.86. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,810.03.

First Citizens BancShares Dividend Announcement

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

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.