First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 15.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,529 shares of the bank’s stock after buying an additional 7,613 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Citizens BancShares were worth $107,749,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares during the second quarter worth approximately $35,000. Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares in the 3rd quarter valued at approximately $39,000. Gradient Investments LLC acquired a new stake in shares of First Citizens BancShares in the 2nd quarter valued at $52,000. Blue Trust Inc. raised its holdings in shares of First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after purchasing an additional 36 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FCNCA. Wedbush dropped their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,093.40.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,295.00 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $32.11 billion, a P/E ratio of 13.15 and a beta of 0.80. The business has a 50 day simple moving average of $2,055.78 and a 200-day simple moving average of $1,913.78. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the company earned $55.92 EPS. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.76%.

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.