Banco Bilbao Vizcaya Argentaria S.A. Buys New Stake in First Citizens BancShares, Inc. $FCNCA

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has acquired a new stake in First Citizens BancShares, Inc., purchasing 2,741 shares valued at approximately $5,082,000 during the first quarter.
• CEO Frank B. Holding, Jr. increased his holdings by purchasing 600 shares for $1,019,250, bringing his total ownership to 32,300 shares, valued at around $54.87 million.
• A number of research analysts have given First Citizens BancShares varying ratings, with the consensus rating being "Moderate Buy" and a target price of $2,291.17.

Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,741 shares of the bank's stock, valued at approximately $5,082,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in First Citizens BancShares by 54.5% during the first 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. Community Bank N.A. purchased a new stake in First Citizens BancShares during the first quarter valued at approximately $44,000. Wayfinding Financial LLC purchased a new stake in First Citizens BancShares during the first quarter valued at approximately $64,000. Brooklyn Investment Group lifted its position in First Citizens BancShares by 32.1% during the first quarter. Brooklyn Investment Group now owns 37 shares of the bank's stock valued at $67,000 after acquiring an additional 9 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its position in First Citizens BancShares by 263.6% during the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock valued at $74,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 600 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the acquisition, the chief executive officer owned 32,300 shares of the company's stock, valued at approximately $54,869,625. This represents a 1.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Olivia Britton Holding purchased 409 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares of the company's stock, valued at $2,875,320. This represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,494 shares of company stock worth $2,485,986 over the last 90 days. 13.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on FCNCA shares. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. UBS Group restated a "buy" rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Citigroup upped their price target on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Cowen restated a "buy" rating on shares of First Citizens BancShares in a research note on Monday, July 28th. Finally, TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,291.17.

First Citizens BancShares Stock Up 1.6%

NASDAQ:FCNCA opened at $1,931.34 on Thursday. The firm has a market capitalization of $24.95 billion, a P/E ratio of 11.40 and a beta of 0.64. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company's fifty day moving average price is $1,976.90 and its 200-day moving average price is $1,907.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. The firm had revenue of $2.38 billion for 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%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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

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.

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