XTX Topco Ltd Acquires Shares of 811 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

XTX Topco Ltd bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 2nd quarter, Holdings Channel.com reports. The fund bought 811 shares of the bank’s stock, valued at approximately $1,365,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors bought a new stake in First Citizens BancShares during the first quarter worth about $298,180,000. Vanguard Group Inc. boosted its position in shares of First Citizens BancShares by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank’s stock worth $1,740,984,000 after acquiring an additional 47,167 shares in the last quarter. Wellington Management Group LLP increased its stake in First Citizens BancShares by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after acquiring an additional 41,793 shares during the last quarter. Point72 Asset Management L.P. raised its position in First Citizens BancShares by 130.1% during the fourth quarter. Point72 Asset Management L.P. now owns 46,180 shares of the bank’s stock valued at $65,528,000 after purchasing an additional 26,107 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in First Citizens BancShares by 770.1% during the first quarter. Westfield Capital Management Co. LP now owns 27,713 shares of the bank’s stock worth $45,312,000 after purchasing an additional 24,528 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Jefferies Financial Group began coverage on First Citizens BancShares in a research report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Raymond James raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a report on Tuesday, July 2nd. Finally, Barclays increased their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $1,927.90.

First Citizens BancShares Trading Up 1.3 %

FCNCA opened at $1,965.18 on Friday. The company’s 50 day moving average price is $1,949.31 and its two-hundred day moving average price is $1,759.84. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 10.91 and a beta of 0.82. First Citizens BancShares, Inc. has a fifty-two week low of $1,274.91 and a fifty-two week high of $2,174.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share for the quarter, beating analysts’ consensus estimates of $44.91 by $5.96. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. During the same period in the prior year, the business posted $52.60 earnings per share. As a group, research analysts predict that First Citizens BancShares, Inc. will post 200.92 earnings per share for the current year.

First Citizens BancShares announced that its board has authorized a stock buyback program on Thursday, July 25th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the bank to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, August 30th. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

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.