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

US Bancorp DE lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 543 shares of the bank’s stock after selling 330 shares during the quarter. US Bancorp DE’s holdings in First Citizens BancShares were worth $972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of First Citizens BancShares during the third quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% in the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Steph & Co. bought a new position in First Citizens BancShares in the 3rd quarter valued at about $32,000. Root Financial Partners LLC acquired a new position in First Citizens BancShares during the 3rd quarter valued at about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 14 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FCNCA. Truist Financial boosted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Piper Sandler raised their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,892.44 on Friday. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. 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 company has a market capitalization of $22.60 billion, a price-to-earnings ratio of 11.42 and a beta of 0.68. The firm has a 50-day moving average of $2,078.57 and a two-hundred day moving average of $1,957.49.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. The company had revenue of $2.44 billion during 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%. As a group, analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors 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 yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 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.