First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,694 shares of the bank’s stock after selling 249 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Citizens BancShares were worth $3,119,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in First Citizens BancShares by 3,577.5% in the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after buying an additional 34,058 shares in the last quarter. FMR LLC raised its position in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after buying an additional 33,713 shares during the last quarter. Zurich Insurance Group Ltd FI raised its holdings in 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 worth $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC lifted its position in First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after purchasing an additional 23,919 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in First Citizens BancShares by 6,773.9% in the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock worth $40,274,000 after acquiring an additional 23,573 shares in the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 0.6 %

Shares of FCNCA opened at $2,209.89 on Wednesday. The stock’s 50-day moving average is $2,068.18 and its two-hundred day moving average is $1,920.18. First Citizens BancShares, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $30.92 billion, a PE ratio of 12.66 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the business earned $55.92 EPS. Equities analysts forecast that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush dropped their target price on shares of 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. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,093.40.

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.