First Citizens BancShares, Inc. $FCNCA Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 35.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,420 shares of the bank’s stock after selling 1,339 shares during the period. AustralianSuper Pty Ltd’s holdings in First Citizens BancShares were worth $4,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares in the 3rd quarter valued at $27,000. UMB Bank n.a. raised its position in shares of First Citizens BancShares by 100.0% in the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after buying an additional 8 shares during the last quarter. Steph & Co. purchased a new position in shares of First Citizens BancShares in the third quarter worth about $32,000. Root Financial Partners LLC acquired a new position in First Citizens BancShares during the third quarter worth about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after acquiring an additional 14 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. Piper Sandler lifted their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. TD Cowen dropped their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a report on Monday, January 26th. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target on the stock. in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,972.87 on Thursday. The stock has a fifty day simple moving average of $2,089.56 and a 200-day simple moving average of $1,957.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a market cap of $24.54 billion, a PE ratio of 11.90 and a beta of 0.68. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.24 by $7.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.