KBC Group NV Has $25.30 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

KBC Group NV trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,425 shares of the bank’s stock after selling 301 shares during the quarter. KBC Group NV owned 0.11% of First Citizens BancShares worth $25,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in shares of First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after purchasing an additional 5 shares during the last quarter. MBL Wealth LLC boosted its stake in First Citizens BancShares by 0.8% in the fourth quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock valued at $1,335,000 after buying an additional 5 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in First Citizens BancShares by 2.6% in the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock valued at $439,000 after buying an additional 6 shares in the last quarter. Corient Private Wealth LLC grew its position in First Citizens BancShares by 0.6% in the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after acquiring an additional 6 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in First Citizens BancShares by 3.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock valued at $519,000 after acquiring an additional 7 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FCNCA has been the subject of a number of research reports. TD Cowen dropped their target price on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a research report on Wednesday, April 8th. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2,247.08.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,071.16 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The firm has a market cap of $24.00 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.62. The firm’s fifty day moving average is $2,050.59 and its 200-day moving average is $2,017.46.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same period in the prior year, the business posted $37.79 earnings per share. Sell-side analysts predict that First Citizens BancShares, Inc. will post 177.18 earnings per share for the current year.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 528 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the purchase, the chief executive officer owned 64,100 shares in the company, valued at approximately $116,237,017. This represents a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought a total of 7,190 shares of company stock valued at $12,573,868 over the last ninety days. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Profile

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.