First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 210 shares of the bank’s stock after selling 5 shares during the period. MetLife Investment Management LLC’s holdings in First Citizens BancShares were worth $387,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in First Citizens BancShares during the second quarter worth about $35,000. Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares during the 3rd quarter valued at approximately $39,000. Gradient Investments LLC acquired a new position in First Citizens BancShares in the second quarter valued at approximately $52,000. Blue Trust Inc. grew its position in First Citizens BancShares by 120.0% in the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after acquiring an additional 36 shares during the period. Finally, GAMMA Investing LLC raised its position in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the period. 61.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FCNCA has been the subject of a number of recent analyst reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. 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 on the stock in a report on Friday, October 25th. The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wedbush decreased their price target on 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. Finally, Keefe, Bruyette & Woods cut First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,113.40.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,196.60 on Monday. The stock has a market cap of $30.73 billion, a P/E ratio of 12.58 and a beta of 0.83. The company has a fifty day simple moving average of $2,088.79 and a 200-day simple moving average of $1,929.12. 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, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period last year, the business posted $55.92 EPS. Equities analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS 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. Investors of record on Friday, November 29th will be paid a dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

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.