First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Tobam

Tobam lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139 shares of the bank’s stock after selling 51 shares during the quarter. Tobam’s holdings in First Citizens BancShares were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FCNCA. FMR LLC raised its holdings in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after purchasing an additional 30,828 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after purchasing an additional 23,919 shares during the last quarter. Commerce Bank lifted its position in First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after buying an additional 20,906 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in First Citizens BancShares by 337.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock worth $48,095,000 after buying an additional 20,149 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA opened at $2,218.40 on Friday. The stock’s 50-day moving average price is $2,152.11 and its 200 day moving average price is $2,058.74. First Citizens BancShares, Inc. has a 12-month low of $1,460.76 and a 12-month high of $2,412.93. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.00 and a beta of 0.85. 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 (NASDAQ:FCNCA) last posted its quarterly earnings data 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 net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FCNCA. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Wedbush reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Piper Sandler increased their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Barclays raised 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 report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.