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Sumitomo Mitsui Trust Group increased its stake in First Citizens BancShares, which reported strong earnings.
Sumitomo Mitsui Trust Group Inc. increased its shares in First Citizens BancShares Inc. by 12.9%, now owning 0.46% of the company valued at $114.7 million.
First Citizens BancShares reported strong earnings of $37.79 per share, exceeding analysts' expectations.
The stock, with a market cap of $26 billion, has a "Moderate Buy" rating and has outperformed the market by 11% annually over the past decade.
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Sumitomo Mitsui Trust Group incrementó su participación en First Citizens BancShares, que reportó fuertes ganancias.