First Citizens BancShares, Inc. $FCNCA Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the bank’s stock after selling 751 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of First Citizens BancShares worth $16,693,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of First Citizens BancShares by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank’s stock valued at $743,815,000 after purchasing an additional 9,070 shares during the period. Egerton Capital UK LLP increased its holdings in First Citizens BancShares by 21.7% in the first quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock valued at $231,344,000 after buying an additional 22,257 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in First Citizens BancShares by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock valued at $225,429,000 after buying an additional 14,060 shares in the last quarter. Nuveen LLC acquired a new position in shares of First Citizens BancShares in the first quarter worth about $149,963,000. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of First Citizens BancShares by 0.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 79,132 shares of the bank’s stock worth $154,819,000 after acquiring an additional 258 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,845.30 on Friday. The company has a market cap of $22.95 billion, a PE ratio of 10.91 and a beta of 0.75. The stock’s 50 day simple moving average is $1,811.13 and its 200-day simple moving average is $1,893.17. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, topping the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%.The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s payout ratio is currently 4.97%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings lowered First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Barclays dropped their price objective on First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Raymond James Financial set a $2,100.00 price objective on First Citizens BancShares in a research report on Tuesday, October 7th. Truist Financial upped their target price on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,157.50.

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.