Eurizon Capital SGR S.p.A. Invests $899,000 in First Citizens BancShares, Inc. $FCNCA

Eurizon Capital SGR S.p.A. purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 419 shares of the bank’s stock, valued at approximately $899,000.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock valued at $778,785,000 after buying an additional 18,190 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in First Citizens BancShares by 117,518.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after buying an additional 205,658 shares during the period. Alliancebernstein L.P. boosted its stake in First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock valued at $140,109,000 after buying an additional 10,948 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in First Citizens BancShares by 57.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock valued at $164,247,000 after buying an additional 27,789 shares during the period. Finally, UBS Group AG boosted its stake in First Citizens BancShares by 96.7% during the fourth quarter. UBS Group AG now owns 69,551 shares of the bank’s stock valued at $149,269,000 after buying an additional 34,184 shares during the period. 78.01% of the stock is owned by institutional investors.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. The trade was a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders bought 6,187 shares of company stock valued at $10,640,161. Insiders own 14.63% of the company’s stock.

First Citizens BancShares Trading Down 2.1%

Shares of FCNCA stock opened at $1,955.08 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average price of $1,957.58 and a two-hundred day moving average price of $1,996.42. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The firm has a market cap of $22.66 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted $37.79 earnings per share. Equities analysts anticipate that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares’s payout ratio is 4.83%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target for the company. in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods dropped their price target on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2,215.91.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.