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

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in First Citizens BancShares during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC raised its position in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after acquiring an additional 9 shares in the last quarter. Reflection Asset Management bought a new position in shares of First Citizens BancShares in the 4th quarter worth about $45,000. Global Assets Advisory LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at about $45,000. Finally, Allworth Financial LP lifted 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 period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 528 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the transaction, the chief executive officer directly owned 64,100 shares of the company’s stock, valued at $116,237,017. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 7,190 shares of company stock worth $12,573,868 over the last quarter. 14.63% of the stock is owned by corporate insiders.

First Citizens BancShares Trading Down 0.2%

FCNCA opened at $2,071.16 on Wednesday. The firm has a market capitalization of $24.00 billion, a PE ratio of 11.91, a P/E/G ratio of 1.57 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The company’s 50-day moving average is $2,050.59 and its 200 day moving average is $2,017.46.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period last year, the firm earned $37.79 earnings per share. As a group, research analysts predict that First Citizens BancShares, Inc. will post 177.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCNCA. The Goldman Sachs Group lifted their target price on 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. Citigroup cut First Citizens BancShares from a “neutral” rating to a “market perform” rating in a report on Thursday, July 9th. Fundamental Research set a $2,350.00 price objective on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. Finally, 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 on the stock in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2,247.08.

First Citizens BancShares Company 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.