First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC reduced its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.4% in the 4th quarter, HoldingsChannel reports. The fund owned 104 shares of the bank’s stock after selling 25 shares during the quarter. Simon Quick Advisors LLC’s holdings in First Citizens BancShares were worth $220,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in First Citizens BancShares by 11.6% in the third 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 holdings in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after buying an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of First Citizens BancShares by 15.0% in 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 valued at $107,749,000 after buying an additional 7,613 shares in the last quarter. Reinhart Partners LLC. grew its position in shares of First Citizens BancShares by 2.1% in the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after buying an additional 1,183 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in First Citizens BancShares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after acquiring an additional 1,339 shares in the last quarter. Hedge funds and other 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 firm has a market cap of $31.13 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. First Citizens BancShares, Inc. has a 52-week low of $1,383.00 and a 52-week high of $2,412.93. The company’s 50-day simple moving average is $2,171.41 and its 200-day simple moving average is $2,033.79. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on 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. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Barclays increased their price objective on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2,290.75.

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.