Resona Asset Management Co. Ltd. Has $5.40 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Resona Asset Management Co. Ltd. cut its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,515 shares of the bank’s stock after selling 518 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in First Citizens BancShares were worth $5,404,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FCNCA. Northwestern Mutual Wealth Management Co. boosted its stake in First Citizens BancShares by 117,518.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after buying an additional 205,658 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in First Citizens BancShares by 2,057.4% in the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after buying an additional 45,304 shares in the last quarter. M&T Bank Corp boosted its stake in First Citizens BancShares by 13,512.7% in the fourth quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock valued at $82,679,000 after buying an additional 38,241 shares in the last quarter. UBS Group AG boosted its stake in First Citizens BancShares by 96.7% in the fourth quarter. UBS Group AG now owns 69,551 shares of the bank’s stock valued at $149,269,000 after buying an additional 34,184 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in First Citizens BancShares by 57.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock valued at $164,247,000 after buying an additional 27,789 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of First Citizens BancShares stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 6,198 shares of company stock worth $10,661,547 over the last quarter. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,991.55 on Friday. The business’s 50-day moving average price is $1,928.22 and its 200-day moving average price is $1,985.72. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,232.21. The firm has a market capitalization of $23.08 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $37.79 earnings per share. Equities research analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

Analyst Ratings Changes

Several research firms recently weighed in on FCNCA. TD Cowen reduced their price objective on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. UBS Group set a $2,325.00 price objective on First Citizens BancShares in a research note on Wednesday, February 4th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Barclays cut their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2,215.91.

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.