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

Asset Management One Co. Ltd. boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,663 shares of the bank’s stock after purchasing 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 SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $9,359,000. Compound Global Advisors LLC purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $423,000. Peterson Wealth Services raised its stake in shares of First Citizens BancShares by 4.7% during the fourth quarter. Peterson Wealth Services now owns 580 shares of the bank’s stock worth $1,226,000 after purchasing an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of First Citizens BancShares by 19.3% during the fourth quarter. Summit Trail Advisors LLC now owns 241 shares of the bank’s stock worth $508,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target 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. Piper Sandler upped their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. UBS Group initiated coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,141.49 on Tuesday. The stock’s 50-day moving average is $2,143.58 and its 200-day moving average is $2,066.03. The company has a market cap of $29.96 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. 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 12 month low of $1,475.85 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s payout ratio is currently 4.12%.

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.