Universal Beteiligungs und Servicegesellschaft mbH Purchases 616 Shares of First Citizens BancShares, Inc. $FCNCA

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 22.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,390 shares of the bank's stock after buying an additional 616 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in First Citizens BancShares were worth $7,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of First Citizens BancShares by 23.4% in the third quarter. Citigroup Inc. now owns 16,938 shares of the bank's stock valued at $30,305,000 after buying an additional 3,215 shares during the period. Founders Financial Alliance LLC boosted its position in shares of First Citizens BancShares by 484.7% during the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank's stock worth $2,742,000 after buying an additional 1,270 shares during the period. AlphaQuest LLC grew its holdings in shares of First Citizens BancShares by 577.7% during the third quarter. AlphaQuest LLC now owns 759 shares of the bank's stock worth $1,358,000 after buying an additional 647 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of First Citizens BancShares by 122.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,440 shares of the bank's stock worth $5,237,000 after buying an additional 1,342 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of First Citizens BancShares during the third quarter worth about $415,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,154.00 price objective for the company. in a report on Wednesday, April 8th. TD Cowen reduced their target price on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a "buy" rating for the company in a report on Monday. Truist Financial increased their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a "hold" rating in a report on Monday, January 26th. Piper Sandler set a $2,050.00 target price on shares of First Citizens BancShares in a report on Friday. Finally, Zacks Research upgraded shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $2,202.08.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 92 shares of the company's stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $1,550.00 per share, with a total value of $142,600.00. Following the completion of the transaction, the chief executive officer owned 2,841 shares of the company's stock, valued at $4,403,550. The trade was a 3.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 258 shares of company stock worth $404,236 over the last 90 days. Corporate insiders own 14.63% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,973.53 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm's fifty day moving average price is $1,929.98 and its two-hundred day moving average price is $1,962.62. First Citizens BancShares, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,232.21. The firm has a market capitalization of $23.56 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.44 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $37.79 earnings per share. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 178.89 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.