Wilmington Savings Fund Society FSB Sells 28 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Wilmington Savings Fund Society FSB reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,905 shares of the bank’s stock after selling 28 shares during the period. Wilmington Savings Fund Society FSB’s holdings in First Citizens BancShares were worth $6,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners bought a new position in First Citizens BancShares during the fourth quarter worth about $33,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the period. Brooklyn Investment Group purchased a new stake in First Citizens BancShares during the 3rd quarter worth about $39,000. GAMMA Investing LLC grew its holdings in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after buying an additional 35 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of 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. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of several research analyst reports. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wedbush cut their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Barclays boosted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Stock Up 0.4 %

Shares of NASDAQ:FCNCA opened at $2,218.40 on Friday. The stock has a market capitalization of $31.04 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The stock’s 50-day moving average price is $2,150.58 and its 200-day moving average price is $2,061.33. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12-month low of $1,460.76 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 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.