Citigroup Inc. Sells 3,413 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Citigroup Inc. trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,734 shares of the bank’s stock after selling 3,413 shares during the period. Citigroup Inc. owned 0.12% of First Citizens BancShares worth $32,647,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. LRI Investments LLC acquired a new position in shares of First Citizens BancShares during the 1st quarter worth about $33,000. V Square Quantitative Management LLC acquired a new position in First Citizens BancShares during the second quarter valued at approximately $35,000. Gradient Investments LLC acquired a new stake in First Citizens BancShares in the second quarter worth $52,000. Blue Trust Inc. boosted its position in shares of First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after buying an additional 35 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Barclays boosted their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Wedbush dropped 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 report on Friday, October 25th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,025.90.

First Citizens BancShares Stock Down 0.5 %

First Citizens BancShares stock opened at $2,341.02 on Tuesday. The company has a market cap of $32.75 billion, a P/E ratio of 13.41 and a beta of 0.80. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The company has a fifty day simple moving average of $2,016.00 and a 200 day simple moving average of $1,893.32. 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 Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the company earned $55.92 earnings per share. Research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.33%. First Citizens BancShares’s payout ratio is 3.76%.

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.