Amalgamated Bank Cuts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Amalgamated Bank lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 618 shares of the bank’s stock after selling 12 shares during the period. Amalgamated Bank’s holdings in First Citizens BancShares were worth $1,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balentine LLC acquired a new stake in First Citizens BancShares in the third quarter valued at $3,564,000. Hiddenite Capital Partners LP lifted its stake in shares of First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after purchasing an additional 400 shares during the period. Retireful LLC purchased a new stake in First Citizens BancShares during the third quarter worth about $801,000. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares during the period. Finally, Check Capital Management Inc. CA grew its position in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after buying an additional 5,605 shares during the period. 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. Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. The Goldman Sachs Group raised their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Down 2.9 %

FCNCA stock opened at $1,989.62 on Tuesday. The company has a 50 day moving average price of $2,139.06 and a two-hundred day moving average price of $2,073.44. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $27.01 billion, a P/E ratio of 10.50, a PEG ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a one year low of $1,505.73 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.39%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

About First Citizens BancShares

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.