XTX Topco Ltd Invests $1.37 Million in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

XTX Topco Ltd acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 811 shares of the bank’s stock, valued at approximately $1,365,000.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in First Citizens BancShares in the first quarter valued at approximately $29,000. Mather Group LLC. acquired a new stake in shares of First Citizens BancShares during the first quarter worth $31,000. LRI Investments LLC bought a new stake in First Citizens BancShares in the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new position in First Citizens BancShares in the 2nd quarter worth $35,000. Finally, Principal Securities Inc. bought a new position in First Citizens BancShares during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Stock Up 1.3 %

Shares of FCNCA stock opened at $1,965.18 on Friday. First Citizens BancShares, Inc. has a 52-week low of $1,274.91 and a 52-week high of $2,174.80. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 10.91 and a beta of 0.82. The firm’s 50-day moving average is $1,949.31 and its 200-day moving average is $1,759.84. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.08 and a current ratio of 1.08.

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

First Citizens BancShares declared that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

First Citizens BancShares Announces Dividend

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

Analyst Ratings Changes

FCNCA has been the subject of several recent research reports. Piper Sandler upped their price objective on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted 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 report on Friday, July 26th. Barclays increased their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Raymond James raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price for the company in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research 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 six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,927.90.

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.