Pathstone Holdings LLC Sells 13 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Pathstone Holdings LLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,667 shares of the bank’s stock after selling 13 shares during the period. Pathstone Holdings LLC’s holdings in First Citizens BancShares were worth $6,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Reinhart Partners LLC. boosted its stake in shares of First Citizens BancShares by 0.7% during the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after purchasing an additional 416 shares during the period. Zurich Insurance Group Ltd FI boosted its position in shares of First Citizens BancShares by 225.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after buying an additional 29,194 shares during the period. Sculptor Capital LP grew its stake in shares of First Citizens BancShares by 16.8% during the second quarter. Sculptor Capital LP now owns 37,998 shares of the bank’s stock valued at $63,974,000 after buying an additional 5,467 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of First Citizens BancShares by 8.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 37,697 shares of the bank’s stock worth $63,467,000 after buying an additional 2,926 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of First Citizens BancShares by 3,577.5% during the 2nd quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock worth $58,943,000 after acquiring an additional 34,058 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FCNCA shares. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Barclays raised their price target on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,025.90.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $2,353.08 on Friday. The firm’s fifty day simple moving average is $2,005.59 and its two-hundred day simple moving average is $1,886.58. The firm has a market capitalization of $32.92 billion, a P/E ratio of 13.48 and a beta of 0.80. 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 $2,363.90.

First Citizens BancShares (NASDAQ:FCNCA) last announced 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). 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 analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $55.92 earnings per share. Analysts forecast that First Citizens BancShares, Inc. will post 189.06 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

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