First Citizens BancShares, Inc. $FCNCA Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in First Citizens BancShares by 2.2%, acquiring an additional 333 shares, totaling approximately $29.26 million.
• Insider purchases included Hope Holding Bryant and major shareholder Olivia Britton Holding, each acquiring 409 shares valued at $666,670, marking a significant increase in their positions.
• First Citizens BancShares announced a quarterly dividend of $1.95 per share, with a yield of 0.4%, to be paid on September 15th to shareholders recorded by August 29th.

Hsbc Holdings PLC boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,802 shares of the bank's stock after acquiring an additional 333 shares during the period. Hsbc Holdings PLC owned 0.12% of First Citizens BancShares worth $29,256,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FCNCA. MassMutual Private Wealth & Trust FSB increased its position in First Citizens BancShares by 54.5% in 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 period. Community Bank N.A. acquired a new position in First Citizens BancShares in the 1st quarter valued at about $44,000. Wayfinding Financial LLC acquired a new position in First Citizens BancShares in the 1st quarter valued at about $64,000. Brooklyn Investment Group increased its position in First Citizens BancShares by 32.1% in the 1st 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 period. Finally, Toth Financial Advisory Corp increased its position 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 during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Buying and Selling at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding bought 409 shares of the stock in a transaction on 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 acquisition, the insider 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Hope Holding Bryant acquired 409 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the acquisition, the insider directly owned 1,764 shares of the company's stock, 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. In the last 90 days, insiders have purchased 1,494 shares of company stock worth $2,485,986. 13.19% of the stock is owned by insiders.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded up $41.18 during trading hours on Wednesday, reaching $2,039.50. 148,797 shares of the company traded hands, compared to its average volume of 92,688. The firm's 50-day moving average is $1,989.04 and its 200-day moving average is $1,900.27. The stock has a market cap of $26.35 billion, a P/E ratio of 12.01 and a beta of 0.64. 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, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93.

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

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 0.4%. The ex-dividend date is Friday, August 29th. First Citizens BancShares's dividend payout ratio is 4.60%.

Analysts Set New Price Targets

FCNCA has been the topic of several recent analyst reports. Piper Sandler set a $2,150.00 target price on First Citizens BancShares and gave the stock a "neutral" rating in a research report on Monday, July 28th. Cowen reiterated a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Citigroup boosted their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. UBS Group reiterated a "buy" rating and set a $2,410.00 target price on shares of First Citizens BancShares in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group initiated coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,291.17.

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.