OLD National Bancorp IN Makes New $331,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

OLD National Bancorp IN bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 233 shares of the bank’s stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. CWM LLC raised its holdings in shares of First Citizens BancShares by 35.5% during the 3rd quarter. CWM LLC now owns 187 shares of the bank’s stock valued at $257,000 after purchasing an additional 49 shares in the last quarter. SG Americas Securities LLC raised its holdings in First Citizens BancShares by 28.1% in the 3rd quarter. SG Americas Securities LLC now owns 1,526 shares of the bank’s stock worth $2,106,000 after acquiring an additional 335 shares during the period. UMB Bank n.a. raised its holdings in First Citizens BancShares by 1,040.0% in the 3rd quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock worth $79,000 after acquiring an additional 52 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in First Citizens BancShares in the 3rd quarter worth $1,380,000. Finally, Commonwealth Equity Services LLC grew its position in First Citizens BancShares by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Up 9.8 %

Shares of NASDAQ FCNCA opened at $1,800.35 on Friday. First Citizens BancShares, Inc. has a 1-year low of $945.32 and a 1-year high of $1,810.03. The company has a market cap of $26.14 billion, a PE ratio of 2.29 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average of $1,572.77 and a two-hundred day moving average of $1,475.21.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 179.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Olivia Britton Holding acquired 466 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the acquisition, the insider now owns 121,694 shares in the company, valued at $160,027,610. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Frank B. Holding, Jr. acquired 622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding acquired 466 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders acquired a total of 1,388 shares of company stock valued at $1,825,220 over the last ninety days. Insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on FCNCA. DA Davidson restated a “neutral” rating and issued a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Barclays began coverage on shares of First Citizens BancShares in a research report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 price target on the stock. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1,768.63.

First Citizens BancShares Company Profile

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.