UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $227.20 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 83.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,523 shares of the bank's stock after buying an additional 48,994 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of First Citizens BancShares worth $227,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after buying an additional 103,137 shares during the period. FMR LLC increased its stake in shares of First Citizens BancShares by 10.5% in the 4th quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after purchasing an additional 34,097 shares in the last quarter. Capital International Investors increased its stake in shares of First Citizens BancShares by 78.2% in the 4th quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after purchasing an additional 75,785 shares in the last quarter. Norges Bank purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $298,426,000. Finally, Northern Trust Corp increased its stake in shares of First Citizens BancShares by 16.9% in the 4th quarter. Northern Trust Corp now owns 76,739 shares of the bank's stock valued at $162,151,000 after purchasing an additional 11,122 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on First Citizens BancShares in a research note on Wednesday. They issued a "hold" rating and a $2,050.00 price target for the company. Cowen began coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. TD Cowen assumed coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average price target of $2,340.33.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the acquisition, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Stock Down 1.0%

Shares of First Citizens BancShares stock traded down $18.77 during trading on Friday, reaching $1,822.27. The company had a trading volume of 45,012 shares, compared to its average volume of 89,010. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The firm's fifty day moving average is $1,792.52 and its 200-day moving average is $2,003.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. On average, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's payout ratio is 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.