Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH purchased 2,484 shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) valued at approximately $4.6 million during the first quarter.
• Recent reports from research firms have led to varied ratings for First Citizens BancShares, with one sell rating, five hold ratings, and eight buy ratings issued by analysts.
• First Citizens BancShares reported a strong quarterly earnings result with $44.78 EPS, surpassing estimates of $39.08, and a revenue of $2.38 billion.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,484 shares of the bank's stock, valued at approximately $4,606,000.

Other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares in the last quarter. Community Bank N.A. bought a new stake in First Citizens BancShares in the first quarter valued at $44,000. Wayfinding Financial LLC bought a new stake in First Citizens BancShares in the first quarter valued at $64,000. Toth Financial Advisory Corp increased its stake in First Citizens BancShares by 263.6% in the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock valued at $74,000 after purchasing an additional 29 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter worth about $77,000. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Up 0.3%

Shares of FCNCA traded up $5.35 during trading hours on Thursday, reaching $2,022.37. 17,487 shares of the company traded hands, compared to its average volume of 84,471. The company's fifty day moving average price is $1,957.65 and its two-hundred day moving average price is $1,937.92. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 11.93 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.08 by $5.70. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.30%. Equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, August 29th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.60%.

Insider Activity at First Citizens BancShares

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 bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer directly owned 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 13.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Barclays cut their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Cowen restated a "buy" rating on shares of First Citizens BancShares in a report on Monday. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price target on the stock. Finally, Citigroup boosted their price target on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Hold" and a consensus price target of $2,291.17.

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.