BNP Paribas Financial Markets Sells 1,488 Shares of First Citizens BancShares, Inc. $FCNCA

BNP Paribas Financial Markets lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 17.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,285 shares of the bank’s stock after selling 1,488 shares during the period. BNP Paribas Financial Markets’ holdings in First Citizens BancShares were worth $15,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $116,565,000. Eurizon Capital SGR S.p.A. bought a new stake in First Citizens BancShares in the 4th quarter valued at approximately $899,000. National Pension Service boosted its position in First Citizens BancShares by 17.8% during the 4th quarter. National Pension Service now owns 3,593 shares of the bank’s stock worth $7,711,000 after acquiring an additional 542 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $5,226,000. Finally, Malaga Cove Capital LLC raised its holdings in shares of First Citizens BancShares by 24.9% in the fourth quarter. Malaga Cove Capital LLC now owns 783 shares of the bank’s stock valued at $1,680,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 1.4%

Shares of First Citizens BancShares stock opened at $2,075.10 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The stock has a market cap of $24.05 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.58 and a beta of 0.62. 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’s 50 day moving average is $1,965.38 and its 200-day moving average is $1,998.38.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business posted $37.79 EPS. Equities research analysts predict that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research report on Friday, April 24th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2,215.91.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 5,940 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the acquisition, the chief executive officer owned 38,111 shares of the company’s stock, valued at $65,810,837.02. The trade was a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders purchased 6,187 shares of company stock worth $10,640,161. 14.63% of the stock is currently owned by insiders.

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.