First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Diversified Trust Co

Diversified Trust Co cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,102 shares of the bank’s stock after selling 27 shares during the period. Diversified Trust Co’s holdings in First Citizens BancShares were worth $2,329,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. M&T Bank Corp grew its position in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of First Citizens BancShares by 0.5% during the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock valued at $2,019,000 after buying an additional 6 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after buying an additional 6 shares in the last quarter. Tandem Capital Management Corp ADV raised its position in First Citizens BancShares by 1.8% during the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after buying an additional 8 shares during the period. Finally, Mount Lucas Management LP lifted its stake in First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after acquiring an additional 8 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Barclays increased their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Truist Financial assumed coverage on First Citizens BancShares in a report on Tuesday. They set a “hold” rating and a $2,303.00 price objective for the company. Eight 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2,290.75.

First Citizens BancShares Stock Performance

FCNCA opened at $2,116.86 on Wednesday. The stock has a 50-day moving average of $2,153.54 and a 200-day moving average of $1,995.31. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The company has a market cap of $29.61 billion, a PE ratio of 12.13 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate 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 last year, the business earned $55.92 EPS. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

First Citizens BancShares Profile

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.