First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by KBC Group NV

KBC Group NV raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 113.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,753 shares of the bank's stock after purchasing an additional 5,725 shares during the period. KBC Group NV owned 0.08% of First Citizens BancShares worth $19,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of FCNCA. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $32,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $40,000. Community Bank N.A. purchased a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $44,000. Finally, Toth Financial Advisory Corp boosted its holdings in shares of First Citizens BancShares by 263.6% in the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock valued at $74,000 after buying an additional 29 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCNCA has been the topic of several research analyst reports. 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. TD Cowen started coverage on First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price on the stock. Citigroup boosted their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Barclays cut their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of "Moderate Buy" and a consensus target price of $2,323.67.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded up $20.11 during mid-day trading on Thursday, reaching $2,094.02. 45,316 shares of the company were exchanged, compared to its average volume of 88,532. The firm's 50-day simple moving average is $1,863.97 and its two-hundred day simple moving average is $1,940.83. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The firm has a market cap of $27.83 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 0.95 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. First Citizens BancShares's dividend payout ratio (DPR) is 4.47%.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer directly owned 2,758 shares of the company's stock, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is currently owned by company insiders.

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.