Daiwa Securities Group Inc. Grows Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Daiwa Securities Group Inc. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 180.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,057 shares of the bank’s stock after acquiring an additional 1,323 shares during the period. Daiwa Securities Group Inc.’s holdings in First Citizens BancShares were worth $3,463,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of First Citizens BancShares by 21.6% in the first quarter. Nordea Investment Management AB now owns 29,077 shares of the bank’s stock worth $47,866,000 after acquiring an additional 5,172 shares during the period. Norges Bank purchased a new stake in First Citizens BancShares during the 4th quarter valued at approximately $180,039,000. BNP Paribas Financial Markets grew its holdings in First Citizens BancShares by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 3,492 shares of the bank’s stock valued at $5,709,000 after buying an additional 568 shares in the last quarter. Bessemer Group Inc. raised its position in shares of First Citizens BancShares by 2,583.3% during the first quarter. Bessemer Group Inc. now owns 805 shares of the bank’s stock valued at $1,316,000 after buying an additional 775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of First Citizens BancShares by 10.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,236 shares of the bank’s stock worth $17,363,000 after acquiring an additional 1,176 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of several research analyst reports. Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays lifted their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Jefferies Financial Group began coverage on First Citizens BancShares in a report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price objective on the stock. Finally, Piper Sandler raised their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,920.82.

First Citizens BancShares Stock Up 0.3 %

Shares of FCNCA opened at $1,825.45 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a 52-week low of $1,274.91 and a 52-week high of $2,174.80. The company has a market cap of $26.52 billion, a PE ratio of 10.13 and a beta of 0.82. The business has a fifty day moving average of $1,925.43 and a 200 day moving average of $1,745.43.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, topping analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the company earned $52.60 EPS. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 200.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, August 30th. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

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.