First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Holdings Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,663 shares of the bank’s stock after buying an additional 157 shares during the period. Asset Management One Co. Ltd.’s holdings in First Citizens BancShares were worth $7,811,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of First Citizens BancShares by 5.1% during the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after acquiring an additional 811 shares in the last quarter. Balentine LLC bought a new stake in First Citizens BancShares in the third quarter worth $3,564,000. Hiddenite Capital Partners LP boosted its holdings in First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after purchasing an additional 400 shares in the last quarter. Retireful LLC acquired a new position in First Citizens BancShares during the 3rd quarter worth $801,000. Finally, JPMorgan Chase & Co. lifted 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 acquiring an additional 18,501 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wedbush dropped their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. UBS Group began coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,141.49 on Tuesday. The company has a market cap of $29.96 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.00 and a beta of 0.85. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $2,143.58 and a 200 day simple moving average of $2,066.03. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Research analysts predict that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

First Citizens BancShares 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.