SG Americas Securities LLC Purchases 7,670 Shares of First Citizens BancShares, Inc. $FCNCA

SG Americas Securities LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 231.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,986 shares of the bank’s stock after acquiring an additional 7,670 shares during the quarter. SG Americas Securities LLC’s holdings in First Citizens BancShares were worth $20,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC raised its stake in First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after purchasing an additional 9 shares in the last quarter. Fifth Third Bancorp raised its stake in First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares in the last quarter. Reflection Asset Management bought a new position in First Citizens BancShares during the fourth quarter valued at $45,000. Finally, Allworth Financial LP lifted its position in First Citizens BancShares by 21.7% during the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after purchasing an additional 5 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,117.29 on Thursday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. The firm has a 50-day moving average price of $2,010.53 and a 200-day moving average price of $2,019.63. The firm has a market capitalization of $24.54 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm posted $37.79 EPS. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 175.61 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FCNCA. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Weiss Ratings downgraded shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target for the company. in a research report on Wednesday, April 8th. Piper Sandler set a $2,050.00 price objective on First Citizens BancShares in a research note on Friday, April 24th. Finally, Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2,215.91.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 528 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the acquisition, the chief executive officer directly owned 64,100 shares in the company, valued at $116,237,017. The trade was a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 7,190 shares of company stock valued at $12,573,868 in the last quarter. Corporate insiders own 14.63% of the company’s stock.

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.