Meiji Yasuda Asset Management Co Ltd. Lowers Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Meiji Yasuda Asset Management Co Ltd. cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 27.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202 shares of the bank’s stock after selling 76 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in First Citizens BancShares were worth $427,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Financial Life Planners acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management lifted its holdings in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares in the 4th quarter worth $36,000. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares during the 4th quarter valued at about $38,000. 78.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on FCNCA. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of 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, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus target price of $2,288.08.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Up 0.1 %

First Citizens BancShares stock opened at $1,880.07 on Friday. The business’s 50-day moving average price is $2,032.66 and its 200 day moving average price is $2,052.77. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.41%. First Citizens BancShares’s dividend payout ratio is presently 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.