BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 236 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 145.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398 shares of the bank’s stock after acquiring an additional 236 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in First Citizens BancShares were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. ORG Partners LLC bought a new stake in First Citizens BancShares during the 1st quarter valued at about $29,000. GAMMA Investing LLC bought a new stake in First Citizens BancShares during the 4th quarter valued at about $30,000. Mather Group LLC. bought a new stake in First Citizens BancShares during the 1st quarter valued at about $31,000. LRI Investments LLC bought a new stake in First Citizens BancShares during the 1st quarter valued at about $33,000. Finally, V Square Quantitative Management LLC bought a new stake in First Citizens BancShares during the 2nd quarter valued at about $35,000. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

FCNCA opened at $2,030.70 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.72. The company has a market cap of $29.51 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. The company’s 50 day moving average is $1,893.59 and its 200 day moving average is $1,727.72. First Citizens BancShares, Inc. has a 12-month low of $1,274.91 and a 12-month high of $2,174.80.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, August 30th. First Citizens BancShares’s payout ratio is 3.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of 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. Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective for the company in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their price objective on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays raised their price target on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group started coverage on shares of First Citizens BancShares in a report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,920.82.

First Citizens BancShares 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.