First Citizens BancShares, Inc. $FCNCA Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC boosted its stake in First Citizens BancShares by 6.6% in the fourth quarter, ending with 27,221 shares valued at about $58.4 million. Institutional investors and hedge funds now own 78.01% of the company.
• CEO Frank B. Holding, Jr. bought 5,940 shares on May 12 for about $10.26 million, increasing his position by 18.46%. Insider buying in the last quarter totaled 6,187 shares worth $10.64 million.
• The company reported strong quarterly earnings of $44.86 per share, topping analyst estimates, and announced a quarterly dividend of $2.10 per share. Analysts currently rate the stock a consensus “Hold” with a target price of $2,215.91.

Natixis Advisors LLC increased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,221 shares of the bank's stock after acquiring an additional 1,697 shares during the period. Natixis Advisors LLC owned about 0.22% of First Citizens BancShares worth $58,421,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in First Citizens BancShares during the 3rd quarter worth about $27,000. Harbor Investment Advisory LLC increased its holdings in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after purchasing an additional 9 shares during the period. UMB Bank n.a. increased its holdings in First Citizens BancShares by 100.0% during the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank's stock worth $29,000 after purchasing an additional 8 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank's stock worth $34,000 after purchasing an additional 14 shares during the period. Finally, Fifth Third Bancorp increased its holdings in First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank's stock worth $38,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the acquisition, the chief executive officer owned 38,111 shares in the company, valued at $65,810,837.02. The trade was a 18.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 6,187 shares of company stock valued at $10,640,161. Corporate insiders own 14.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen cut their price target on First Citizens BancShares from $2,500.00 to $2,300.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Wall Street Zen upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Sunday, May 24th. JPMorgan Chase & Co. cut their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2,215.91.

First Citizens BancShares Trading Down 2.1%

FCNCA opened at $1,955.08 on Thursday. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a market cap of $22.66 billion, a P/E ratio of 11.24, a PEG ratio of 1.52 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50-day simple moving average is $1,957.58 and its 200-day simple moving average is $1,996.42.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts' consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business posted $37.79 EPS. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $2.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio is presently 4.83%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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