J. Safra Sarasin Holding AG Takes Position in First Citizens BancShares, Inc. $FCNCA

J. Safra Sarasin Holding AG bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 515 shares of the bank’s stock, valued at approximately $1,105,000.

A number of other large investors have also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its holdings in First Citizens BancShares by 1.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 3,565 shares of the bank’s stock valued at $7,651,000 after purchasing an additional 65 shares during the last quarter. Sendero Wealth Management LLC raised its position in First Citizens BancShares by 0.7% in the 4th quarter. Sendero Wealth Management LLC now owns 4,596 shares of the bank’s stock worth $9,864,000 after purchasing an additional 33 shares during the period. CCM Investment Advisers LLC bought a new stake in First Citizens BancShares in the fourth quarter worth about $215,000. DAVENPORT & Co LLC lifted its stake in First Citizens BancShares by 17.1% in the fourth quarter. DAVENPORT & Co LLC now owns 370 shares of the bank’s stock worth $794,000 after purchasing an additional 54 shares during the last quarter. Finally, E. Ohman J or Asset Management AB boosted its position in shares of First Citizens BancShares by 1.7% during the fourth quarter. E. Ohman J or Asset Management AB now owns 12,927 shares of the bank’s stock valued at $27,744,000 after buying an additional 222 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,894.38 on Thursday. The firm has a market cap of $22.62 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The firm’s 50 day simple moving average is $1,962.88 and its 200-day simple moving average is $1,941.51. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is 5.07%.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 92 shares of the stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost of $1,550.00 per share, for a total transaction of $142,600.00. Following the acquisition, the chief executive officer owned 2,841 shares of the company’s stock, valued at $4,403,550. This represents a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders acquired 258 shares of company stock valued at $404,236. 13.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of analyst reports. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Friday, March 27th. Piper Sandler upped their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,211.00.

First Citizens BancShares Profile

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.