BNP Paribas Financial Markets Acquires 12,837 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

BNP Paribas Financial Markets raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 374.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,261 shares of the bank's stock after acquiring an additional 12,837 shares during the period. BNP Paribas Financial Markets owned approximately 0.12% of First Citizens BancShares worth $34,360,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after purchasing an additional 1,158 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in First Citizens BancShares in the third quarter valued at $203,000. JPMorgan Chase & Co. increased its stake in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. GAMMA Investing LLC increased its stake in First Citizens BancShares by 16.1% in the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank's stock valued at $152,000 after purchasing an additional 10 shares in the last quarter. Finally, CCM Investment Advisers LLC bought a new stake in First Citizens BancShares in the fourth quarter valued at $211,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FCNCA. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Barclays decreased their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,330.82.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the business's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer now directly owns 2,758 shares in the company, valued at approximately $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Craig L. Nix purchased 17 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $14.82 during mid-day trading on Tuesday, hitting $1,955.12. The stock had a trading volume of 77,803 shares, compared to its average volume of 89,543. The firm has a market cap of $26.54 billion, a P/E ratio of 10.32, a PEG ratio of 0.94 and a beta of 0.64. The business has a fifty day moving average price of $1,771.57 and a 200-day moving average price of $2,008.96. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.40%. First Citizens BancShares's dividend payout ratio is currently 4.47%.

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.