UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. grew its position in shares of First Citizens BancShares by 69.6% in the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after buying an additional 1,244 shares during the last quarter. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after purchasing an additional 18,501 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in First Citizens BancShares during the 4th quarter worth approximately $39,739,000. Check Capital Management Inc. CA grew its position in First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after purchasing an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares in the company, 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 available through the SEC website. Also, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51% increase in their position. The disclosure for this purchase can be found here. 13.19% of the stock is owned by insiders.

Analysts Set New Price Targets

FCNCA has been the topic of several research analyst reports. Wall Street Zen downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group dropped their target price on shares of 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. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Cowen began coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Barclays decreased 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 note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average price target of $2,340.33.

First Citizens BancShares Stock Performance

Shares of FCNCA traded down $4.40 during trading hours on Wednesday, hitting $1,849.17. The stock had a trading volume of 14,580 shares, compared to its average volume of 88,794. 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 50-day moving average price of $1,791.54 and a 200 day moving average price of $2,000.08. 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 has a market capitalization of $24.57 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating 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. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio 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.