Amundi Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Amundi increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,955 shares of the bank’s stock after purchasing an additional 146 shares during the period. Amundi owned 0.06% of First Citizens BancShares worth $18,752,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in First Citizens BancShares during the 4th quarter worth $33,000. Hemington Wealth Management raised its holdings in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $36,000. Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares during the fourth quarter worth about $38,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on FCNCA. The Goldman Sachs Group upped their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Barclays upped their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,738.71 on Friday. The firm’s fifty day simple moving average is $2,092.22 and its 200-day simple moving average is $2,063.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market cap of $23.61 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a fifty-two week low of $1,515.02 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.45%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

About First Citizens BancShares

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.