First Citizens BancShares, Inc. $FCNCA Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 66,276 shares of the bank’s stock after buying an additional 1,450 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in First Citizens BancShares were worth $118,578,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock valued at $816,022,000 after acquiring an additional 15,921 shares during the last quarter. Norges Bank bought a new position in First Citizens BancShares during the second quarter worth $177,604,000. First Citizens Bank & Trust Co. boosted its holdings in First Citizens BancShares by 0.3% in the second quarter. First Citizens Bank & Trust Co. now owns 79,132 shares of the bank’s stock worth $154,819,000 after purchasing an additional 258 shares during the period. Reinhart Partners LLC. increased its stake in First Citizens BancShares by 4.2% during the second quarter. Reinhart Partners LLC. now owns 69,279 shares of the bank’s stock valued at $135,575,000 after purchasing an additional 2,820 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of First Citizens BancShares by 15.7% during the second quarter. Bank of America Corp DE now owns 65,101 shares of the bank’s stock worth $127,369,000 after purchasing an additional 8,826 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $2,163.09 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The business’s 50 day moving average is $2,006.03 and its 200-day moving average is $1,947.04. The stock has a market cap of $26.91 billion, a PE ratio of 12.79 and a beta of 0.69.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $41.51 by $3.11. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. First Citizens BancShares had a return on equity of 11.09% and a net margin of 15.99%. On average, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $2.10 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, November 28th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.97%.

Insider Buying and Selling

In other news, Director Ellen R. Alemany purchased 300 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director owned 300 shares in the company, valued at $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 135 shares of the stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the transaction, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 13.19% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of several research reports. Piper Sandler decreased their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Finally, UBS Group restated a “buy” rating and set a $2,500.00 price objective on shares of First Citizens BancShares in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,250.55.

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.