Raiffeisen Bank International AG Invests $321,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Key Points

• Raiffeisen Bank International AG has invested approximately $321,000 in First Citizens BancShares, acquiring 175 shares during the first quarter.
• Insider transactions revealed that major shareholder Olivia Britton Holding purchased 66 shares at approximately $1,735.00 each, increasing their ownership stake.
• Analysts have varied ratings on First Citizens BancShares, with the consensus being a "Hold" and an average price target of $2,291.17 for the stock.

Raiffeisen Bank International AG purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 175 shares of the bank's stock, valued at approximately $321,000.

Several other large investors also recently bought and sold shares of FCNCA. MassMutual Private Wealth & Trust FSB increased its holdings 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 during the period. Community Bank N.A. purchased a new position in shares of First Citizens BancShares in the 1st quarter valued at about $44,000. Wayfinding Financial LLC purchased a new position in shares of First Citizens BancShares in the 1st quarter valued at about $64,000. Toth Financial Advisory Corp increased 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 acquiring an additional 29 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on FCNCA. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Cowen reissued a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Barclays decreased their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. TD Cowen initiated coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price for the company. Finally, Wall Street Zen cut First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Hold" and a consensus price target of $2,291.17.

First Citizens BancShares Trading Up 0.4%

Shares of NASDAQ:FCNCA traded up $7.28 during midday trading on Friday, reaching $1,828.13. The company's stock had a trading volume of 286,357 shares, compared to its average volume of 100,816. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 10.79 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The business has a 50 day moving average price of $1,967.07 and a 200 day moving average price of $1,924.74.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.30% and a net margin of 16.37%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business 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 $1.95 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio is presently 4.60%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding acquired 66 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $1,735.00 per share, for a total transaction of $114,510.00. Following the acquisition, the insider directly owned 121,926 shares of the company's stock, valued at $211,541,610. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.40% of the stock is owned by 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.