Canandaigua National Bank & Trust Co. Reduces Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Canandaigua National Bank & Trust Co. lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 31.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 108 shares of the bank’s stock after selling 49 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in First Citizens BancShares were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FCNCA. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC lifted its position in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of First Citizens BancShares by 17.7% during the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after purchasing an additional 11 shares during the period. Quarry LP bought a new position in shares of First Citizens BancShares in the second quarter worth about $126,000. Finally, Private Trust Co. NA increased its stake in First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 1.5 %

NASDAQ:FCNCA opened at $2,116.86 on Wednesday. The stock has a market capitalization of $29.61 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83. 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 quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $2,153.54 and a 200 day moving average of $1,995.31.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned $55.92 EPS. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial started coverage on First Citizens BancShares in a research report on Tuesday. They set a “hold” rating and a $2,303.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Finally, Wedbush decreased their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Eight 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, the company has a consensus rating of “Hold” and a consensus target price of $2,290.75.

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.