UBS Group AG Raises Stock Position in First Citizens BancShares, Inc. $FCNCA

Key Points

• UBS Group AG boosted its stake in First Citizens BancShares by 96.7% in Q4 to 69,551 shares — about 0.56% of the company, valued at roughly $149.27 million.
• Analysts hold a consensus Hold rating on FCNCA with a consensus price target of $2,202.08, reflecting mixed views (1 Strong Buy, 4 Buy, 9 Hold) and several recent target adjustments.
• CEO Frank B. Holding Jr. bought 134 shares at about $1,550 each, raising insider ownership to 14.63%, and the firm declared a $2.10 quarterly dividend ($8.40 annualized, ~0.4% yield).

UBS Group AG grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,551 shares of the bank's stock after acquiring an additional 34,184 shares during the period. UBS Group AG owned about 0.56% of First Citizens BancShares worth $149,269,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FCNCA. SBI Securities Co. Ltd. purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at $27,000. UMB Bank n.a. increased its stake in First Citizens BancShares by 100.0% during the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank's stock worth $29,000 after buying an additional 8 shares during the period. Root Financial Partners LLC purchased a new stake in First Citizens BancShares during the 3rd quarter worth $32,000. Harbor Investment Advisory LLC increased its stake in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after buying an additional 9 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank's stock worth $34,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCNCA. Zacks Research raised shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a "hold" rating in a research note on Monday, January 26th. Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a research note on Friday, April 24th. Barclays dropped their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an "equal weight" rating on the stock in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a "neutral" rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2,202.08.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 134 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $1,550.00 per share, with a total value of $207,700.00. Following the acquisition, the chief executive officer owned 2,749 shares of the company's stock, valued at approximately $4,260,950. This represents a 5.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 258 shares of company stock valued at $404,236. Insiders own 14.63% of the company's stock.

First Citizens BancShares Trading Up 0.6%

NASDAQ FCNCA opened at $1,983.82 on Friday. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a 50-day simple moving average of $1,926.86 and a 200-day simple moving average of $1,964.79. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $23.69 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.37%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $37.79 EPS. On average, equities analysts forecast that First Citizens BancShares, Inc. will post 177.81 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is 4.83%.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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