Mitsubishi UFJ Trust & Banking Corp Sells 2,858 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 30.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,577 shares of the bank's stock after selling 2,858 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in First Citizens BancShares were worth $13,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCNCA. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the period. Check Capital Management Inc. CA increased its position in First Citizens BancShares by 20.0% in the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after purchasing an additional 5,605 shares during the period. Asset Management One Co. Ltd. raised its holdings in First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after purchasing an additional 157 shares during the last quarter. Raymond James Financial Inc. acquired a new position in First Citizens BancShares during the 4th quarter valued at about $39,739,000. Finally, Assetmark Inc. boosted its stake in shares of First Citizens BancShares by 57.7% in the 4th quarter. Assetmark Inc. now owns 5,363 shares of the bank's stock valued at $11,332,000 after purchasing an additional 1,962 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

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First Citizens BancShares Stock Down 2.4 %

Shares of First Citizens BancShares stock traded down $44.97 on Friday, hitting $1,835.10. The company had a trading volume of 77,972 shares, compared to its average volume of 86,054. The stock has a 50-day moving average of $2,025.58 and a 200-day moving average of $2,055.55. 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, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. The firm has a market capitalization of $24.92 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. 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 company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, February 28th. First Citizens BancShares's dividend payout ratio is presently 4.12%.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. The Goldman Sachs Group dropped their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Truist Financial raised their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective for the company in a report on Tuesday, March 11th. Finally, Citigroup cut First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,288.08.

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.