Mediolanum International Funds Ltd Invests $2.66 Million in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mediolanum International Funds Ltd acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,260 shares of the bank's stock, valued at approximately $2,656,000.

Several other large investors have also made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $239,000. OLD National Bancorp IN lifted its position in shares of First Citizens BancShares by 37.0% during the fourth quarter. OLD National Bancorp IN now owns 200 shares of the bank's stock worth $423,000 after purchasing an additional 54 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in shares of First Citizens BancShares by 4.5% during the fourth quarter. Stonegate Investment Group LLC now owns 279 shares of the bank's stock valued at $590,000 after acquiring an additional 12 shares during the period. Blue Trust Inc. boosted its stake in shares of First Citizens BancShares by 29.0% in the 4th quarter. Blue Trust Inc. now owns 187 shares of the bank's stock valued at $395,000 after purchasing an additional 42 shares during the last quarter. Finally, Affinity Wealth Management LLC grew its holdings in First Citizens BancShares by 6.7% during the 4th quarter. Affinity Wealth Management LLC now owns 478 shares of the bank's stock worth $1,010,000 after acquiring an additional 30 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

Shares of FCNCA stock traded up $23.07 during trading hours on Wednesday, hitting $2,172.79. The stock had a trading volume of 48,230 shares, compared to its average volume of 73,010. The stock's 50 day moving average is $2,154.07 and its 200 day moving average is $2,057.68. First Citizens BancShares, Inc. has a twelve month low of $1,438.08 and a twelve month high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $30.40 billion, a PE ratio of 11.47, a PEG ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares's payout ratio is currently 4.12%.

Analyst Ratings Changes

A number of analysts have commented on FCNCA shares. The Goldman Sachs Group increased their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,323.50.

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.