Sei Investments Co. Has $25.28 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Sei Investments Co. raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 36.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,413 shares of the bank’s stock after buying an additional 3,573 shares during the period. Sei Investments Co. owned about 0.11% of First Citizens BancShares worth $25,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in First Citizens BancShares by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after acquiring an additional 681 shares in the last quarter. Empowered Funds LLC increased its holdings in First Citizens BancShares by 71.9% during the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after purchasing an additional 164 shares in the last quarter. Focus Partners Wealth increased its holdings in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after purchasing an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of First Citizens BancShares by 31.3% in the second quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock worth $172,000 after purchasing an additional 21 shares during the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in shares of First Citizens BancShares in the second quarter worth approximately $260,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,198.00 on Wednesday. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,237.81. The company’s 50 day moving average price is $2,073.43 and its two-hundred day moving average price is $2,017.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The stock has a market cap of $25.47 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.61 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $56.68. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.16 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 16.28%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 177.18 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is currently 4.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FCNCA. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,350.00 to $2,450.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. TD Cowen lowered their price target on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a research note on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2,278.31.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 5,940 shares of First Citizens BancShares stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the purchase, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired a total of 7,190 shares of company stock valued at $12,573,868 over the last 90 days. 14.63% of the stock is currently owned by insiders.

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.