First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 374.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,261 shares of the bank’s stock after purchasing an additional 12,837 shares during the quarter. BNP Paribas Financial Markets owned about 0.12% of First Citizens BancShares worth $34,360,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FCNCA. Barclays PLC lifted its stake in First Citizens BancShares by 19.2% during the third quarter. Barclays PLC now owns 7,195 shares of the bank’s stock worth $13,246,000 after purchasing an additional 1,158 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in First Citizens BancShares during the 3rd quarter valued at about $203,000. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after acquiring an additional 18,501 shares in the last quarter. GAMMA Investing LLC increased its stake in First Citizens BancShares by 16.1% during the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock worth $152,000 after purchasing an additional 10 shares during the period. Finally, CCM Investment Advisers LLC acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,830.22 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $24.85 billion, a P/E ratio of 9.66, a PEG ratio of 0.94 and a beta of 0.64. The business has a 50 day simple moving average of $1,771.80 and a 200-day simple moving average of $2,009.82. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FCNCA. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Truist Financial upped their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,330.82.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is owned by insiders.

First Citizens BancShares Company 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.