Mediolanum International Funds Ltd Has $3.95 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mediolanum International Funds Ltd boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 71.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,154 shares of the bank’s stock after acquiring an additional 894 shares during the period. Mediolanum International Funds Ltd’s holdings in First Citizens BancShares were worth $3,953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of First Citizens BancShares by 10.5% in the 4th quarter. FMR LLC now owns 357,629 shares of the bank’s stock valued at $755,677,000 after purchasing an additional 34,097 shares during the period. Capital International Investors increased its holdings in First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Norges Bank bought a new stake in First Citizens BancShares in the fourth quarter valued at about $298,426,000. Egerton Capital UK LLP lifted its stake in First Citizens BancShares by 21.7% in the first quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock valued at $231,344,000 after buying an additional 22,257 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock worth $226,892,000 after buying an additional 122,300 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCNCA has been the subject of a number of recent analyst reports. Cowen started coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. UBS Group reissued a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a report on Wednesday, July 9th. Finally, Barclays dropped their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,299.50.

First Citizens BancShares Stock Down 0.8%

FCNCA stock opened at $2,096.04 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $27.86 billion, a P/E ratio of 12.37 and a beta of 0.64. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The business has a 50-day moving average of $1,953.13 and a 200-day moving average of $1,937.36.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.30% and a net margin of 16.37%. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer owned 2,758 shares of the company’s stock, valued at approximately $4,440,380. This represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.19% of the company’s stock.

First Citizens BancShares Company 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.