Mitsubishi UFJ Trust & Banking Corp Sells 319 Shares of First Citizens BancShares, Inc. $FCNCA

Mitsubishi UFJ Trust & Banking Corp cut its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,213 shares of the bank’s stock after selling 319 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of First Citizens BancShares worth $14,694,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of First Citizens BancShares by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock worth $816,022,000 after buying an additional 15,921 shares in the last quarter. Norges Bank purchased a new position in First Citizens BancShares in the second quarter worth about $177,604,000. First Citizens Bank & Trust Co. increased its stake in First Citizens BancShares by 0.3% during the second 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 during the last quarter. Reinhart Partners LLC. increased its stake in First Citizens BancShares by 1.4% during the third quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock worth $125,715,000 after acquiring an additional 969 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in First Citizens BancShares by 2.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock valued at $118,578,000 after purchasing an additional 1,450 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 0.7%

NASDAQ:FCNCA opened at $2,000.82 on Wednesday. The company has a market cap of $24.89 billion, a price-to-earnings ratio of 12.07 and a beta of 0.69. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,245.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $2,067.24 and a 200-day simple moving average of $1,950.22.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCNCA. UBS Group reiterated a “buy” rating and issued a $2,500.00 target price on shares of First Citizens BancShares in a report on Tuesday, January 6th. TD Cowen dropped their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Keefe, Bruyette & Woods lowered their target price on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Finally, The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,245.09.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany purchased 300 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director owned 300 shares of the company’s stock, valued at approximately $300,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $1,629.67 per share, for a total transaction of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares of the company’s stock, valued at $4,118,176.09. This represents a 5.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 13.19% of the company’s stock.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full?service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.