First Citizens Bank & Trust Co. Trims Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

First Citizens Bank & Trust Co. lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,507 shares of the bank’s stock after selling 67 shares during the period. First Citizens BancShares comprises about 3.0% of First Citizens Bank & Trust Co.’s portfolio, making the stock its 8th biggest position. First Citizens Bank & Trust Co. owned about 0.65% of First Citizens BancShares worth $193,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FCNCA. FMR LLC boosted its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after buying an additional 7,613 shares during the period. Reinhart Partners LLC. raised its stake in First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after buying an additional 1,183 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of First Citizens BancShares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after purchasing an additional 1,339 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 0.4 %

Shares of First Citizens BancShares stock opened at $2,225.00 on Friday. The company has a market capitalization of $31.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. 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 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 fifty-two week low of $1,383.00 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio is 4.47%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FCNCA shares. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Truist Financial initiated coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price target on the stock. Wedbush decreased their price objective on 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. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and an average 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.