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

Daiwa Securities Group Inc. grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 751 shares of the bank’s stock after buying an additional 117 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Citizens BancShares were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of First Citizens BancShares by 145.4% during the 4th 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 last quarter. Mackenzie Financial Corp lifted its stake in First Citizens BancShares by 89.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock worth $2,716,000 after purchasing an additional 903 shares during the last quarter. Nordea Investment Management AB lifted its stake in First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after purchasing an additional 23,156 shares during the last quarter. Reinhart Partners LLC. lifted its stake in First Citizens BancShares by 11.7% during the fourth 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 last quarter. Finally, Legal & General Group Plc lifted its stake in First Citizens BancShares by 49.1% during the third 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 during the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FCNCA shares. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. UBS Group raised their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. DA Davidson restated a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Wedbush restated an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, Barclays began coverage on First Citizens BancShares in a research note on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Hold” and an average target price of $1,768.63.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the 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 $612,790.00. Following the completion of the acquisition, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the acquisition, the insider now directly owns 121,694 shares in the company, valued at $160,027,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,388 shares of company stock valued at $1,825,220. Company insiders own 12.85% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,639.63 on Thursday. The firm has a market capitalization of $23.82 billion, a price-to-earnings ratio of 2.09 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,652.04. The stock’s fifty day moving average is $1,569.83 and its 200-day moving average is $1,474.05.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 177.19 EPS for the current year.

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.