Daiwa Securities Group Inc. Increases Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Daiwa Securities Group Inc. lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 751 shares of the bank’s stock after purchasing an additional 117 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Citizens BancShares were worth $1,066,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FCNCA. Blue Trust Inc. lifted its position in shares of First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares in the last quarter. Federated Hermes Inc. raised its holdings in First Citizens BancShares by 60.0% in the third quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock valued at $77,000 after acquiring an additional 21 shares in the last quarter. UMB Bank n.a. raised its holdings in First Citizens BancShares by 1,040.0% in the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after acquiring an additional 52 shares in the last quarter. Finally, City Holding Co. acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Hope Holding Bryant acquired 300 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares in the company, valued at $160,027,610. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,388 shares of company stock worth $1,825,220. Insiders own 12.85% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,639.63 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a market cap of $23.82 billion, a PE ratio of 2.09 and a beta of 0.89. The company’s 50 day simple moving average is $1,569.83 and its 200-day simple moving average is $1,474.05. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,652.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 177.19 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on FCNCA shares. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Barclays started coverage on shares of First Citizens BancShares in a report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, UBS Group raised their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and an average price target of $1,768.63.

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.