SBI Securities Co. Ltd. Buys New Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SBI Securities Co. Ltd. bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19 shares of the bank’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its stake in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after buying an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after purchasing an additional 18,501 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter worth $147,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after purchasing an additional 1,183 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 0.2 %

Shares of NASDAQ FCNCA opened at $1,728.36 on Wednesday. First Citizens BancShares, Inc. has a 1 year low of $1,505.73 and a 1 year high of $2,412.93. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50-day simple moving average is $2,107.06 and its 200-day simple moving average is $2,067.45.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate 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, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Analyst Ratings Changes

A number of research analysts have weighed in on FCNCA shares. UBS Group started coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. The Goldman Sachs Group increased their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a research report on Tuesday. Truist Financial increased their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.40% of the stock is owned by corporate insiders.

About First Citizens BancShares

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.