3,055 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,055 shares of the bank's stock, valued at approximately $6,462,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp raised its position in First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock valued at $1,117,000 after purchasing an additional 5 shares during the last quarter. 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 valued at $38,000 after buying an additional 5 shares during the period. Private Advisor Group LLC raised its holdings in First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after buying an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC boosted its position in First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after buying an additional 5 shares during the period. Finally, Hemington Wealth Management grew its holdings in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Stock Up 1.1 %

NASDAQ:FCNCA traded up $17.85 during trading hours on Friday, reaching $1,657.49. The company had a trading volume of 95,958 shares, compared to its average volume of 88,942. The business's 50-day simple moving average is $1,903.26 and its two-hundred day simple moving average is $2,037.43. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.94 and a beta of 0.66. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares's dividend payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCNCA. Barclays lifted 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 report on Monday, January 27th. Truist Financial upped their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares presently has an average rating of "Moderate Buy" and a consensus price target of $2,288.08.

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.