Pictet Asset Management SA Acquires 80 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Pictet Asset Management SA raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,050 shares of the bank’s stock after acquiring an additional 80 shares during the quarter. Pictet Asset Management SA’s holdings in First Citizens BancShares were worth $2,648,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of First Citizens BancShares by 89.6% in the 1st quarter. BlackRock Inc. now owns 1,423,199 shares of the bank’s stock valued at $947,281,000 after buying an additional 672,485 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of First Citizens BancShares by 106.0% in the 1st quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock valued at $735,855,000 after buying an additional 568,929 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in shares of First Citizens BancShares by 147.5% in the 1st quarter. Egerton Capital UK LLP now owns 837,088 shares of the bank’s stock valued at $557,166,000 after buying an additional 498,838 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of First Citizens BancShares by 30.9% in the 1st quarter. Wellington Management Group LLP now owns 594,276 shares of the bank’s stock valued at $395,550,000 after buying an additional 140,410 shares during the last quarter. Finally, State Street Corp lifted its holdings in First Citizens BancShares by 53.7% during the 1st quarter. State Street Corp now owns 402,593 shares of the bank’s stock valued at $267,966,000 after purchasing an additional 140,626 shares during the last quarter. 66.91% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $800.93 on Tuesday. The business’s 50-day moving average price is $828.39 and its 200-day moving average price is $757.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 12.73 and a beta of 0.96. First Citizens BancShares, Inc. has a 12 month low of $598.01 and a 12 month high of $947.71.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a $0.75 dividend. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $0.47. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, November 29th. First Citizens BancShares’s payout ratio is currently 2.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FCNCA shares. StockNews.com started coverage on First Citizens BancShares in a report on Wednesday, October 12th. They set a “hold” rating for the company. DA Davidson downgraded First Citizens BancShares from a “buy” rating to a “neutral” rating and set a $950.00 price target for the company. in a report on Thursday, October 6th.

First Citizens BancShares Profile

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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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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