Daiwa Securities Group Inc. Sells 127 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Daiwa Securities Group Inc. reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,100 shares of the bank’s stock after selling 127 shares during the period. Daiwa Securities Group Inc.’s holdings in First Citizens BancShares were worth $4,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Citizens BancShares by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the bank’s stock worth $4,668,000 after acquiring an additional 47 shares during the period. Personal CFO Solutions LLC bought a new position in First Citizens BancShares in the 4th quarter worth approximately $264,000. Amundi boosted its stake in First Citizens BancShares by 1.7% in the 4th quarter. Amundi now owns 8,955 shares of the bank’s stock worth $18,752,000 after purchasing an additional 146 shares during the period. AMF Tjanstepension AB purchased a new stake in First Citizens BancShares during the 4th quarter valued at approximately $99,818,000. Finally, Callan Family Office LLC bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $809,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on FCNCA. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Barclays boosted their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Stock Up 1.6 %

NASDAQ FCNCA opened at $1,755.93 on Thursday. First Citizens BancShares, Inc. has a 52 week low of $1,515.02 and a 52 week high of $2,412.93. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.94 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a fifty day moving average of $2,099.36 and a two-hundred day moving average of $2,065.44.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. First Citizens BancShares’s payout ratio is 4.12%.

Insider Buying and Selling

In related news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.40% of the stock is owned by corporate insiders.

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.