Sequoia Financial Advisors LLC Has $763,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sequoia Financial Advisors LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 90.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 538 shares of the bank’s stock after purchasing an additional 255 shares during the period. Sequoia Financial Advisors LLC’s holdings in First Citizens BancShares were worth $763,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of First Citizens BancShares by 145.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after buying an additional 833 shares during the period. Nordea Investment Management AB lifted its position in First Citizens BancShares by 3,091.6% in the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock valued at $34,203,000 after acquiring an additional 23,156 shares in the last quarter. Reinhart Partners LLC. boosted its stake in First Citizens BancShares by 11.7% in the 4th quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after purchasing an additional 5,952 shares during the period. Legal & General Group Plc increased its holdings in First Citizens BancShares by 49.1% during the 3rd quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock worth $65,261,000 after purchasing an additional 15,579 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of First Citizens BancShares by 90.9% in the 3rd quarter. Hsbc Holdings PLC now owns 3,132 shares of the bank’s stock valued at $4,326,000 after purchasing an additional 1,491 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCNCA. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. DA Davidson reissued a “neutral” rating and issued a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. UBS Group raised their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Barclays started coverage on shares of First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1,768.63.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,537.60 on Tuesday. The company has a fifty day moving average price of $1,559.12 and a two-hundred day moving average price of $1,464.18. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,651.73. The stock has a market cap of $22.33 billion, a P/E ratio of 1.96 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 178.72 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 0.84%.

Insider Transactions at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Frank B. Holding, Jr. bought 622 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Olivia Britton Holding acquired 466 shares of First Citizens BancShares stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,388 shares of company stock worth $1,825,220. Company insiders own 12.85% of the company’s stock.

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.