Asset Management One Co. Ltd. Buys 139 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Asset Management One Co. Ltd. increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,802 shares of the bank's stock after acquiring an additional 139 shares during the period. Asset Management One Co. Ltd.'s holdings in First Citizens BancShares were worth $7,049,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its stake in First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the 4th quarter valued at $36,000. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at about $40,000. Community Bank N.A. bought a new position in shares of First Citizens BancShares during the first quarter worth approximately $44,000. Finally, Toth Financial Advisory Corp increased its stake in First Citizens BancShares by 263.6% during the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after acquiring an additional 29 shares during the period. 78.01% of the stock is owned by institutional investors.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 350 shares of the stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares of the company's stock, valued at approximately $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several research analyst reports. Barclays lowered their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. The Goldman Sachs Group decreased their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. TD Cowen initiated coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price objective for the company. Finally, Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of "Moderate Buy" and a consensus target price of $2,340.33.

First Citizens BancShares Trading Down 0.2%

Shares of FCNCA stock opened at $1,956.86 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $1,846.33 and a 200-day moving average of $1,942.11. The firm has a market cap of $26.01 billion, a P/E ratio of 11.21, a PEG ratio of 0.91 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

First Citizens BancShares Company 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.

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