First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,431 shares of the bank’s stock after acquiring an additional 666 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.05% of First Citizens BancShares worth $15,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCNCA. Financial Life Planners purchased a new stake in First Citizens BancShares during the fourth quarter worth approximately $33,000. Hemington Wealth Management raised its holdings in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $36,000. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Up 1.0 %

Shares of First Citizens BancShares stock opened at $1,854.12 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93. The company has a market cap of $25.17 billion, a P/E ratio of 9.79, a PEG ratio of 0.94 and a beta of 0.81. 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 fifty day moving average of $2,018.88 and a two-hundred day moving average of $2,055.75.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly 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%. On average, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of 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 report on Saturday, February 1st. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Barclays lifted their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average price target 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.