Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,084 shares of the bank’s stock after selling 2,528 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of First Citizens BancShares worth $18,057,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in First Citizens BancShares by 800,000.0% during the third quarter. Canada Pension Plan Investment Board now owns 8,001 shares of the bank’s stock worth $11,042,000 after purchasing an additional 8,000 shares during the period. Financial Security Advisor Inc. purchased a new stake in First Citizens BancShares during the third quarter worth about $839,000. Aptus Capital Advisors LLC increased its stake in First Citizens BancShares by 19.4% during the third quarter. Aptus Capital Advisors LLC now owns 228 shares of the bank’s stock worth $315,000 after purchasing an additional 37 shares during the period. HighTower Advisors LLC increased its stake in First Citizens BancShares by 12.4% during the third quarter. HighTower Advisors LLC now owns 418 shares of the bank’s stock worth $580,000 after purchasing an additional 46 shares during the period. Finally, Pathstone Family Office LLC increased its stake in First Citizens BancShares by 23.4% during the third quarter. Pathstone Family Office LLC now owns 475 shares of the bank’s stock worth $656,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Insiders Place Their Bets

In other First Citizens BancShares news, Director Ellen R. Alemany sold 2,280 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $1,450.38, for a total value of $3,306,866.40. Following the completion of the transaction, the director now owns 12,097 shares in the company, valued at $17,545,246.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ellen R. Alemany sold 720 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $1,451.91, for a total value of $1,045,375.20. Following the completion of the transaction, the director now owns 14,377 shares in the company, valued at $20,874,110.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ellen R. Alemany sold 2,280 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $1,450.38, for a total value of $3,306,866.40. Following the completion of the transaction, the director now owns 12,097 shares of the company’s stock, valued at approximately $17,545,246.86. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Raymond James assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, November 28th. They set a “market perform” rating on the stock. UBS Group upped their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and an average price target of $1,620.67.

View Our Latest Analysis on FCNCA

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,492.01 on Tuesday. First Citizens BancShares, Inc. has a 12 month low of $505.84 and a 12 month high of $1,552.00. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50 day simple moving average of $1,438.74 and a 200-day simple moving average of $1,407.74. The stock has a market capitalization of $21.66 billion, a PE ratio of 1.90 and a beta of 0.89.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 29th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 0.84%.

About First Citizens BancShares

(Free Report)

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.

See Also

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

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