Sumitomo Mitsui DS Asset Management Company Ltd Has $1.98 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 939 shares of the bank’s stock after selling 51 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Citizens BancShares were worth $1,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $33,000. Mather Group LLC. increased its stake in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares during the third quarter worth $39,000. GAMMA Investing LLC boosted its position in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $2,154.57 on Tuesday. The stock’s fifty day simple moving average is $2,149.21 and its 200 day simple moving average is $2,064.79. First Citizens BancShares, Inc. has a one year low of $1,460.76 and a one year high of $2,412.93. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.00 and a beta of 0.85. 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 (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FCNCA shares. Wedbush reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays increased their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

About First Citizens BancShares

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.