Banco Bilbao Vizcaya Argentaria S.A. Makes New $5.08 Million Investment 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. acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,741 shares of the bank's stock, valued at approximately $5,082,000.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after purchasing an additional 6 shares in the last quarter. Community Bank N.A. acquired a new position in First Citizens BancShares during the 1st quarter worth $44,000. Wayfinding Financial LLC acquired a new position in First Citizens BancShares during the 1st quarter worth $64,000. Brooklyn Investment Group grew its stake in First Citizens BancShares by 32.1% during the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank's stock worth $67,000 after purchasing an additional 9 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in First Citizens BancShares by 263.6% during the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after purchasing an additional 29 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, insider Hope Holding Bryant acquired 409 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This represents a 30.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. bought 600 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the purchase, the chief executive officer owned 32,300 shares of the company's stock, valued at $54,869,625. This trade represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,494 shares of company stock valued at $2,485,986. 13.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cowen reissued a "buy" rating on shares of First Citizens BancShares in a report on Monday, July 28th. UBS Group reaffirmed a "buy" rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Citigroup upped their price objective on 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. Piper Sandler set a $2,150.00 price objective on First Citizens BancShares and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Jefferies Financial Group assumed coverage on First Citizens BancShares in a research note on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,291.17.

First Citizens BancShares Trading Up 0.7%

Shares of FCNCA traded up $14.14 during trading hours on Tuesday, hitting $1,982.62. The stock had a trading volume of 26,880 shares, compared to its average volume of 91,864. The company's fifty day simple moving average is $1,985.24 and its 200 day simple moving average is $1,899.58. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The firm has a market cap of $25.62 billion, a P/E ratio of 11.70 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $44.78 EPS for the quarter, beating the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given 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 payout ratio is presently 4.60%.

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.