Asset Management One Co. Ltd. Decreases Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Asset Management One Co. Ltd. trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,117 shares of the bank’s stock after selling 159 shares during the period. Asset Management One Co. Ltd.’s holdings in First Citizens BancShares were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates boosted its position in First Citizens BancShares by 19.9% in the 1st quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock valued at $1,970,000 after buying an additional 491 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in First Citizens BancShares in the 1st quarter valued at about $207,000. US Bancorp DE boosted its position in First Citizens BancShares by 277.0% in the 1st quarter. US Bancorp DE now owns 475 shares of the bank’s stock valued at $317,000 after buying an additional 349 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in First Citizens BancShares by 21.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock valued at $341,000 after buying an additional 89 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in First Citizens BancShares in the 1st quarter valued at about $162,000. 61.18% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

FCNCA opened at $1,607.61 on Thursday. The firm has a market cap of $23.35 billion, a price-to-earnings ratio of 2.05 and a beta of 0.89. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,651.73. The company’s 50-day moving average price is $1,555.77 and its 200 day moving average price is $1,459.27. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 178.72 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.41%. First Citizens BancShares’s dividend payout ratio (DPR) is 0.84%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of analyst reports. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. DA Davidson restated a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. UBS Group upped their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group assumed coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1,774.83.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the purchase, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,388 shares of company stock worth $1,825,220 over the last quarter. 12.85% of the stock is owned by company insiders.

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.