Mizuho Markets Cayman LP Acquires Shares of 8,010 First Citizens BancShares, Inc. $FCNCA

Mizuho Markets Cayman LP acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 8,010 shares of the bank’s stock, valued at approximately $17,191,000. First Citizens BancShares makes up approximately 0.9% of Mizuho Markets Cayman LP’s investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCNCA. Goldman Sachs Group Inc. increased its holdings in First Citizens BancShares by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after buying an additional 681 shares in the last quarter. Empowered Funds LLC increased its holdings in First Citizens BancShares by 71.9% in the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after buying an additional 164 shares in the last quarter. Focus Partners Wealth increased its holdings in First Citizens BancShares by 5.2% in the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in First Citizens BancShares by 31.3% in the second quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock valued at $172,000 after buying an additional 21 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new position in First Citizens BancShares in the second quarter valued at $260,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.1%

Shares of NASDAQ FCNCA opened at $1,991.55 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The stock has a market cap of $23.08 billion, a PE ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average of $1,928.22 and a 200 day moving average of $1,985.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the company earned $37.79 EPS. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s payout ratio is presently 4.83%.

Analyst Ratings Changes

A number of research firms have weighed in on FCNCA. TD Cowen cut their price objective 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. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Barclays cut their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. Keefe, Bruyette & Woods cut their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Finally, UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given 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 $2,215.91.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the acquisition, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This trade represents a 18.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 6,198 shares of company stock valued at $10,661,547. 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.