Asset Management One Co. Ltd. Boosts Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Asset Management One Co. Ltd. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,663 shares of the bank's stock after buying an additional 157 shares during the quarter. Asset Management One Co. Ltd.'s holdings in First Citizens BancShares were worth $7,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after acquiring an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of First Citizens BancShares by 128.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after purchasing an additional 30,828 shares during the period. International Assets Investment Management LLC boosted its stake in shares of First Citizens BancShares by 183,992.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank's stock valued at $440,580,000 after purchasing an additional 23,919 shares in the last quarter. Commerce Bank increased its position in shares of First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank's stock valued at $39,295,000 after buying an additional 20,906 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock worth $48,095,000 after buying an additional 20,149 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Down 3.2 %

FCNCA traded down $67.86 during trading on Friday, hitting $2,049.25. 72,498 shares of the company's stock traded hands, compared to its average volume of 67,621. The stock has a market capitalization of $28.67 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.96 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12-month low of $1,500.94 and a 12-month high of $2,412.93. The company's 50 day simple moving average is $2,145.78 and its two-hundred day simple moving average is $2,069.58.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares's payout ratio is 4.12%.

Analyst Ratings Changes

Several analysts have weighed in on FCNCA shares. Truist Financial lifted their price objective 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. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,323.50.

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.