AG2R LA Mondiale Gestion D Actifs Acquires New Holdings in First Citizens BancShares, Inc. $FCNCA

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $839,000 in First Citizens BancShares, Inc. by purchasing 454 shares during the 1st quarter.
• First Citizens BancShares reported a quarterly earnings per share (EPS) of $44.78, exceeding analysts' expectations of $39.08, with a net margin of 16.37% and revenue of $2.38 billion.
• The company recently announced a quarterly dividend of $1.95 per share, with a total annualized dividend yield of 0.4%.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 454 shares of the bank's stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FCNCA. JT Stratford LLC grew its holdings in First Citizens BancShares by 0.4% in the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock valued at $2,635,000 after buying an additional 5 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after acquiring an additional 6 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of First Citizens BancShares by 3.8% during the 1st quarter. Cresset Asset Management LLC now owns 163 shares of the bank's stock valued at $302,000 after acquiring an additional 6 shares during the last quarter. M&T Bank Corp grew its holdings in shares of First Citizens BancShares by 1.3% in the first quarter. M&T Bank Corp now owns 632 shares of the bank's stock valued at $1,172,000 after purchasing an additional 8 shares during the period. Finally, Venturi Wealth Management LLC increased its position in First Citizens BancShares by 3.8% during the first quarter. Venturi Wealth Management LLC now owns 221 shares of the bank's stock worth $410,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Trading Up 0.9%

NASDAQ:FCNCA traded up $17.03 during mid-day trading on Wednesday, reaching $1,882.83. The company's stock had a trading volume of 205,412 shares, compared to its average volume of 97,541. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $24.33 billion, a P/E ratio of 11.11 and a beta of 0.71. The company's fifty day simple moving average is $1,986.53 and its two-hundred day simple moving average is $1,886.55. 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 - Get Free Report) last released its 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 firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 29th. First Citizens BancShares's payout ratio is 4.60%.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 600 shares of the business's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,300 shares of the company's stock, valued at $54,869,625. This trade represents a 1.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hope Holding Bryant acquired 409 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the purchase, the insider directly owned 1,764 shares of the company's stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,494 shares of company stock worth $2,485,986. Corporate insiders own 13.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FCNCA shares. Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the company a "neutral" rating in a report on Monday, July 28th. UBS Group reiterated a "buy" rating and issued a $2,410.00 price objective on shares of First Citizens BancShares in a report on Wednesday, July 9th. Cowen reiterated a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Jefferies Financial Group began coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,291.17.

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.