XTX Topco Ltd Acquires 239 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Key Points

• XTX Topco Ltd increased its stake in First Citizens BancShares, Inc. by 101.3% in the first quarter, owning a total of 475 shares worth approximately $881,000.
• Major shareholder Olivia Britton Holding bought 66 additional shares at $1,735 each, bringing her total ownership to around 121,926 shares, valued at more than $211 million.
• First Citizens BancShares reported a quarterly EPS of $44.78, exceeding estimates, and announced a quarterly dividend of $1.95 to be paid on September 15th.

XTX Topco Ltd grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 101.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 475 shares of the bank's stock after purchasing an additional 239 shares during the period. XTX Topco Ltd's holdings in First Citizens BancShares were worth $881,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. De Lisle Partners LLP acquired a new position in shares of First Citizens BancShares during the 1st quarter worth about $1,853,000. Meeder Asset Management Inc. lifted its position in shares of First Citizens BancShares by 11,625.0% during the 1st quarter. Meeder Asset Management Inc. now owns 469 shares of the bank's stock worth $870,000 after buying an additional 465 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of First Citizens BancShares by 92.6% in the 1st quarter. Mackenzie Financial Corp now owns 622 shares of the bank's stock valued at $1,153,000 after buying an additional 299 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Citizens BancShares by 1.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,235 shares of the bank's stock valued at $4,144,000 after buying an additional 26 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in First Citizens BancShares by 353.8% during the 1st quarter. HB Wealth Management LLC now owns 903 shares of the bank's stock worth $1,674,000 after acquiring an additional 704 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the stock a "neutral" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. boosted their target price 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. TD Cowen began coverage on First Citizens BancShares in a report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target for the company. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2,291.17.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded down $17.83 during trading hours on Thursday, reaching $1,830.92. 183,063 shares of the company were exchanged, compared to its average volume of 87,008. The stock has a 50-day moving average of $1,967.74 and a 200 day moving average of $1,930.05. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 10.79 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly 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. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.30%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, August 29th. First Citizens BancShares's payout ratio is 4.60%.

Insider Buying and Selling at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding bought 66 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of $1,735.00 per share, with a total value of $114,510.00. Following the completion of the transaction, the insider owned 121,926 shares in the company, valued at $211,541,610. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is owned by company insiders.

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.