SG Americas Securities LLC Takes $3.93 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SG Americas Securities LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,121 shares of the bank's stock, valued at approximately $3,933,000.

Other institutional investors also recently bought and sold shares of the company. Hemington Wealth Management boosted its stake in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at $36,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares during the period. Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at $38,000. Finally, SBI Securities Co. Ltd. acquired a new stake in First Citizens BancShares in the fourth quarter valued at $40,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cowen assumed coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Barclays dropped their target price on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price on the stock. TD Cowen initiated coverage on shares of First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $2,340.33.

First Citizens BancShares Price Performance

Shares of FCNCA traded up $15.15 during mid-day trading on Monday, hitting $1,833.83. The company's stock had a trading volume of 22,546 shares, compared to its average volume of 87,924. The firm has a 50-day moving average price of $1,806.62 and a 200 day moving average price of $1,960.73. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 350 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

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.