First Citizens BancShares, Inc. $FCNCA Holdings Decreased by US Bancorp DE

US Bancorp DE reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 543 shares of the bank’s stock after selling 330 shares during the period. US Bancorp DE’s holdings in First Citizens BancShares were worth $972,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new stake in First Citizens BancShares during the third quarter valued at $277,000. Legacy Financial Advisors Inc. lifted its position in shares of First Citizens BancShares by 12.4% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 427 shares of the bank’s stock worth $764,000 after buying an additional 47 shares during the last quarter. Alteri Wealth LLC lifted its position in shares of First Citizens BancShares by 4.1% in the 3rd quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock worth $276,000 after buying an additional 6 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after buying an additional 3,215 shares during the period. Finally, Personal CFO Solutions LLC boosted its holdings in shares of First Citizens BancShares by 19.2% in the 3rd quarter. Personal CFO Solutions LLC now owns 186 shares of the bank’s stock valued at $333,000 after buying an additional 30 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. The Goldman Sachs Group cut 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. Finally, JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Stock Down 2.6%

FCNCA stock opened at $1,892.44 on Friday. The stock has a market cap of $22.60 billion, a PE ratio of 11.42 and a beta of 0.68. The firm’s 50-day simple moving average is $2,078.57 and its 200 day simple moving average is $1,957.49. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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

First Citizens BancShares Company Profile

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.