First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,424 shares of the bank’s stock after selling 33 shares during the quarter. BNP Paribas Financial Markets’ holdings in First Citizens BancShares were worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its stake in shares of First Citizens BancShares by 3,577.5% during the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after purchasing an additional 34,058 shares during the period. FMR LLC grew its holdings in First Citizens BancShares by 11.6% during the 3rd 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. Zurich Insurance Group Ltd FI lifted its holdings in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after buying an additional 29,194 shares in the last quarter. International Assets Investment Management LLC boosted its position in First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after buying an additional 23,919 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of First Citizens BancShares by 6,773.9% during the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after acquiring an additional 23,573 shares in the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FCNCA shares. Wedbush reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group lifted their price target on shares of 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, JPMorgan Chase & Co. decreased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,093.40.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,223.21 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. The firm’s 50-day moving average price is $2,061.12 and its two-hundred day moving average price is $1,917.06. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The stock has a market capitalization of $31.10 billion, a P/E ratio of 12.74 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company 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 firm earned $55.92 EPS. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 3.76%.

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.