168 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 168 shares of the bank’s stock, valued at approximately $311,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of First Citizens BancShares by 360.9% in the fourth quarter. Farther Finance Advisors LLC now owns 212 shares of the bank’s stock worth $448,000 after buying an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in First Citizens BancShares by 45.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 235 shares of the bank’s stock worth $496,000 after acquiring an additional 73 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in First Citizens BancShares by 46.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,962 shares of the bank’s stock valued at $75,997,000 after acquiring an additional 11,408 shares in the last quarter. Intech Investment Management LLC lifted its position in First Citizens BancShares by 68.7% in the 4th quarter. Intech Investment Management LLC now owns 1,044 shares of the bank’s stock valued at $2,206,000 after acquiring an additional 425 shares in the last quarter. Finally, Xponance Inc. boosted its stake in First Citizens BancShares by 15.7% during the 4th quarter. Xponance Inc. now owns 1,119 shares of the bank’s stock valued at $2,364,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.7%

FCNCA opened at $2,152.88 on Tuesday. The firm’s 50 day simple moving average is $1,907.01 and its two-hundred day simple moving average is $1,937.41. The company has a market capitalization of $28.61 billion, a PE ratio of 12.33, a PEG ratio of 0.97 and a beta of 0.64. 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 current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $1.95 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. First Citizens BancShares’s payout ratio is presently 4.47%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FCNCA shares. TD Cowen began coverage on First Citizens BancShares in a report on Thursday, May 15th. They set a “buy” rating and a $2,400.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 target price on the stock. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Barclays lowered their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,299.50.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer owned 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.19% of the stock is currently owned by corporate insiders.

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.