First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Lowered by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,507 shares of the bank’s stock after selling 67 shares during the quarter. First Citizens BancShares makes up approximately 3.0% of First Citizens Bank & Trust Co.’s holdings, making the stock its 8th biggest holding. First Citizens Bank & Trust Co.’s holdings in First Citizens BancShares were worth $193,356,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in First Citizens BancShares in the third quarter worth approximately $39,000. GAMMA Investing LLC raised its stake in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares in the last quarter. Quarry LP bought a new position in First Citizens BancShares in the second quarter worth approximately $126,000. Private Trust Co. NA raised its stake in First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in First Citizens BancShares in the third quarter worth approximately $177,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 0.4 %

NASDAQ FCNCA opened at $2,225.00 on Friday. The company has a market capitalization of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. The company has a fifty day moving average of $2,171.41 and a 200 day moving average of $2,035.98. First Citizens BancShares, Inc. has a 1 year low of $1,383.00 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. Research analysts forecast that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FCNCA shares. Truist Financial started coverage on shares of First Citizens BancShares in a research note on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price objective for the company. Keefe, Bruyette & Woods raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price target on the stock in a report on Tuesday, January 14th. Wedbush cut their price target on shares of 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. UBS Group started coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Finally, StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2,290.75.

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.