Stifel Financial Corp Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stifel Financial Corp lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,370 shares of the bank’s stock after acquiring an additional 199 shares during the period. Stifel Financial Corp’s holdings in First Citizens BancShares were worth $9,237,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in First Citizens BancShares by 109.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 65 shares of the bank’s stock valued at $137,000 after buying an additional 34 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in First Citizens BancShares by 104.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 6,941 shares of the bank’s stock valued at $14,666,000 after buying an additional 3,541 shares during the last quarter. MML Investors Services LLC boosted its position in First Citizens BancShares by 16.9% in the fourth quarter. MML Investors Services LLC now owns 1,516 shares of the bank’s stock valued at $3,203,000 after buying an additional 219 shares during the last quarter. Natixis purchased a new stake in First Citizens BancShares in the fourth quarter valued at approximately $309,000. Finally, Ossiam boosted its position in First Citizens BancShares by 39.3% in the fourth quarter. Ossiam now owns 266 shares of the bank’s stock valued at $562,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of a number of analyst reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Barclays decreased their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a report on Friday. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group decreased their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average target price of $2,330.82.

Insider Activity

In other news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Down 0.6 %

Shares of FCNCA opened at $1,779.26 on Monday. The stock has a 50 day moving average price of $1,816.51 and a 200 day moving average price of $2,025.23. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, May 30th. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

First Citizens BancShares 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.