SG Americas Securities LLC Has $360,000 Stock Holdings in First Citizens BancShares, Inc. $FCNCA

SG Americas Securities LLC reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 91.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 184 shares of the bank’s stock after selling 1,937 shares during the period. SG Americas Securities LLC’s holdings in First Citizens BancShares were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of First Citizens BancShares by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank’s stock worth $743,815,000 after acquiring an additional 9,070 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in First Citizens BancShares by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock valued at $225,429,000 after purchasing an additional 14,060 shares during the period. Nuveen LLC acquired a new stake in First Citizens BancShares in the 1st quarter worth $149,963,000. First Citizens Bank & Trust Co. increased its holdings in shares of First Citizens BancShares by 0.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 79,132 shares of the bank’s stock worth $154,819,000 after purchasing an additional 258 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of First Citizens BancShares by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 77,148 shares of the bank’s stock worth $143,042,000 after purchasing an additional 2,919 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, Director Ellen R. Alemany purchased 300 shares of First Citizens BancShares stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director directly owned 300 shares in the company, valued at approximately $300,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,878.48 on Friday. The stock’s fifty day simple moving average is $1,797.10 and its 200 day simple moving average is $1,894.46. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The firm has a market cap of $23.36 billion, a price-to-earnings ratio of 11.11 and a beta of 0.75. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $41.51 by $3.11. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $8.40 annualized dividend and a yield of 0.4%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s payout ratio is 4.97%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCNCA. Barclays reduced their target price on shares of First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Citigroup cut their price target on First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a report on Monday, October 27th. The Goldman Sachs Group decreased their price objective on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $2,100.00 to $2,200.00 in a research note on Thursday, November 20th. Finally, Keefe, Bruyette & Woods reduced their target price on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,165.83.

First Citizens BancShares Company Profile

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.