First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,529 shares of the bank's stock after buying an additional 7,613 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.40% of First Citizens BancShares worth $107,749,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FMR LLC raised its stake in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Reinhart Partners LLC. raised its holdings in First Citizens BancShares by 0.7% during the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank's stock worth $104,562,000 after buying an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock worth $86,812,000 after purchasing an additional 1,339 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of First Citizens BancShares by 225.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock valued at $70,979,000 after buying an additional 29,194 shares during the period. Finally, Sculptor Capital LP grew its stake in First Citizens BancShares by 16.8% during the second quarter. Sculptor Capital LP now owns 37,998 shares of the bank's stock valued at $63,974,000 after acquiring an additional 5,467 shares in the last quarter. Institutional investors own 61.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush reduced their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average price target of $2,093.40.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded down $71.79 during trading hours on Monday, hitting $2,223.21. The company had a trading volume of 117,768 shares, compared to its average volume of 87,832. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 12.77 and a beta of 0.80. The firm has a 50 day simple moving average of $2,055.78 and a 200 day simple moving average of $1,913.78.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the business earned $55.92 EPS. Equities research analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.95 dividend. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares's payout ratio is currently 3.76%.

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.