First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,291 shares of the bank’s stock after selling 1,890 shares during the period. First Citizens BancShares comprises approximately 0.9% of E. Ohman J or Asset Management AB’s portfolio, making the stock its 29th biggest holding. E. Ohman J or Asset Management AB’s holdings in First Citizens BancShares were worth $38,649,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning raised its stake in First Citizens BancShares by 4.5% in the 2nd quarter. Creative Planning now owns 1,089 shares of the bank’s stock valued at $1,834,000 after purchasing an additional 47 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of First Citizens BancShares by 9.4% in the 3rd quarter. Park Avenue Securities LLC now owns 395 shares of the bank’s stock worth $728,000 after buying an additional 34 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of First Citizens BancShares by 17.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,672 shares of the bank’s stock valued at $4,919,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC grew its stake in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the period. Finally, Anderson Hoagland & Co. purchased a new stake in First Citizens BancShares during the 3rd quarter worth $2,291,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCNCA has been the subject of several recent research reports. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. UBS Group started coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. The Goldman Sachs Group upped their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays raised their price target on shares of 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

FCNCA opened at $2,142.01 on Tuesday. 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, Inc. has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93. The firm has a market cap of $29.97 billion, a PE ratio of 11.31, a P/E/G ratio of 1.00 and a beta of 0.85. The business has a fifty day simple moving average of $2,160.31 and a 200-day simple moving average of $2,054.63.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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, equities analysts predict that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio is 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.