Amundi Boosts Holdings in First Citizens BancShares, Inc. $FCNCA

Amundi increased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,540 shares of the bank's stock after purchasing an additional 2,585 shares during the period. Amundi owned approximately 0.08% of First Citizens BancShares worth $21,397,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec boosted its position in First Citizens BancShares by 18.0% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 1,481 shares of the bank's stock valued at $2,746,000 after buying an additional 226 shares during the period. EP Wealth Advisors LLC raised its holdings in First Citizens BancShares by 2.2% in the 1st quarter. EP Wealth Advisors LLC now owns 1,240 shares of the bank's stock worth $2,298,000 after purchasing an additional 27 shares in the last quarter. Royal Bank of Canada raised its holdings in First Citizens BancShares by 14.2% in the 1st quarter. Royal Bank of Canada now owns 5,465 shares of the bank's stock worth $10,134,000 after purchasing an additional 680 shares in the last quarter. Sculptor Capital LP raised its holdings in First Citizens BancShares by 16.0% in the 1st quarter. Sculptor Capital LP now owns 41,463 shares of the bank's stock worth $76,877,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in First Citizens BancShares by 12.5% in the 1st quarter. Vident Advisory LLC now owns 13,043 shares of the bank's stock worth $24,183,000 after purchasing an additional 1,449 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Up 0.0%

Shares of First Citizens BancShares stock traded up $0.70 during trading on Wednesday, hitting $1,946.65. The company's stock had a trading volume of 138,531 shares, compared to its average volume of 133,524. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day simple moving average of $1,998.86 and a two-hundred day simple moving average of $1,890.17. The company has a market capitalization of $25.15 billion, a PE ratio of 11.49 and a beta of 0.71. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week 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, topping the consensus estimate of $39.08 by $5.70. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. Equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 29th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.60%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several research reports. Citigroup upped their price objective 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. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. TD Cowen initiated coverage on shares of First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective for the company. Finally, Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the stock a "neutral" rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,291.17.

Insider Activity

In related news, insider Hope Holding Bryant purchased 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, with a total value of $666,670.00. Following the acquisition, the insider directly owned 1,764 shares in the company, valued at $2,875,320. The trade was a 30.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Olivia Britton Holding purchased 409 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the acquisition, the insider owned 1,764 shares in the company, valued at approximately $2,875,320. The trade was a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,494 shares of company stock valued at $2,485,986 in the last 90 days. 13.40% of the stock is currently 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.