SG Americas Securities LLC Has $7.12 Million Stake in First Citizens BancShares, Inc. $FCNCA

SG Americas Securities LLC lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1,464.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,316 shares of the bank’s stock after purchasing an additional 3,104 shares during the quarter. SG Americas Securities LLC’s holdings in First Citizens BancShares were worth $7,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock valued at $778,785,000 after acquiring an additional 18,190 shares during the period. Norges Bank acquired a new stake in First Citizens BancShares during the 2nd quarter valued at $177,604,000. Alliancebernstein L.P. boosted its position in First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after purchasing an additional 10,948 shares during the period. Reinhart Partners LLC. boosted its position in First Citizens BancShares by 1.4% during the third quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock worth $125,715,000 after purchasing an additional 969 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of First Citizens BancShares by 2.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock valued at $118,578,000 after purchasing an additional 1,450 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 0.6%

FCNCA stock opened at $1,847.00 on Tuesday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 11.15 and a beta of 0.68. The business’s fifty day moving average price is $1,973.44 and its two-hundred day moving average price is $1,942.48.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $2.10 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. First Citizens BancShares’s payout ratio is currently 5.07%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 92 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of $1,550.00 per share, for a total transaction of $142,600.00. Following the transaction, the chief executive officer directly owned 2,841 shares in the company, valued at approximately $4,403,550. This trade represents a 3.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 258 shares of company stock valued at $404,236. Insiders own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Zacks Research downgraded shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, Barclays reduced their price objective on 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,238.27.

About First Citizens BancShares

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.