Mount Lucas Management LP Decreases Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mount Lucas Management LP trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 260 shares of the bank’s stock after selling 55 shares during the quarter. Mount Lucas Management LP’s holdings in First Citizens BancShares were worth $549,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Personal CFO Solutions LLC acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $264,000. Amundi raised its holdings in shares of First Citizens BancShares by 1.7% in the fourth quarter. Amundi now owns 8,955 shares of the bank’s stock worth $18,752,000 after acquiring an additional 146 shares during the last quarter. AMF Tjanstepension AB acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $99,818,000. Callan Family Office LLC acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $809,000. Finally, Candriam S.C.A. raised its holdings in shares of First Citizens BancShares by 21.9% in the fourth quarter. Candriam S.C.A. now owns 528 shares of the bank’s stock worth $1,116,000 after acquiring an additional 95 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,869.60 on Monday. The firm has a market capitalization of $25.38 billion, a PE ratio of 9.87, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $2,114.68 and a two-hundred day moving average of $2,069.30. First Citizens BancShares, Inc. has a 12 month low of $1,505.73 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 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%. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business 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 $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FCNCA shares. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group started coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Finally, Barclays upped their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

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.