Mitsubishi UFJ Trust & Banking Corp Has $13.90 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 30.3% in the fourth quarter, HoldingsChannel reports. The firm owned 6,577 shares of the bank’s stock after selling 2,858 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in First Citizens BancShares were worth $13,897,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 18,501 shares in the last quarter. Check Capital Management Inc. CA increased its holdings in First Citizens BancShares by 20.0% in the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after buying an additional 5,605 shares during the last quarter. Asset Management One Co. Ltd. raised its position in First Citizens BancShares by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after acquiring an additional 157 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $39,739,000. Finally, Assetmark Inc. grew its position in First Citizens BancShares by 57.7% in the fourth quarter. Assetmark Inc. now owns 5,363 shares of the bank’s stock worth $11,332,000 after acquiring an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,835.10 on Friday. 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 market cap of $24.92 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93. The stock’s 50-day moving average is $2,025.58 and its 200-day moving average is $2,052.31.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Wall Street Analyst Weigh In

Several research firms have commented on FCNCA. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Truist Financial increased their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

Insider Activity

In related news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.40% of the stock is owned by insiders.

About First Citizens BancShares

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.