J. Safra Sarasin Holding AG Makes New $1.11 Million Investment in First Citizens BancShares, Inc. $FCNCA

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

A number of other hedge funds have also recently made changes to their positions in FCNCA. Mn Services Vermogensbeheer B.V. raised its stake 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 period. Sendero Wealth Management LLC boosted its stake 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 purchased a new stake in First Citizens BancShares during the 4th quarter valued at approximately $215,000. DAVENPORT & Co LLC grew its holdings in First Citizens BancShares by 17.1% during the 4th quarter. DAVENPORT & Co LLC now owns 370 shares of the bank’s stock valued at $794,000 after buying an additional 54 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised 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 last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.5%

Shares of NASDAQ:FCNCA opened at $1,894.38 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,232.21. The company has a 50-day moving average price of $1,962.88 and a 200 day moving average price of $1,941.51. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.40 and a beta of 0.65.

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

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is currently 5.07%.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 134 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $1,550.00 per share, for a total transaction of $207,700.00. Following the acquisition, the chief executive officer owned 2,749 shares of the company’s stock, valued at approximately $4,260,950. This represents a 5.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 258 shares of company stock worth $404,236. Insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of a number of research reports. Piper Sandler upped their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a report on Friday, March 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $2,200.00 price objective (down from $2,450.00) on shares of First Citizens BancShares in a research report on Wednesday. Finally, Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,211.00.

About First Citizens BancShares

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.