First Citizens BancShares, Inc. $FCNCA Shares Sold by Barclays PLC

Barclays PLC trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,005 shares of the bank’s stock after selling 6,198 shares during the period. Barclays PLC’s holdings in First Citizens BancShares were worth $48,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the 3rd quarter valued at about $27,000. UMB Bank n.a. boosted its position in shares of 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 acquiring an additional 8 shares during the last quarter. Steph & Co. purchased a new stake in First Citizens BancShares in the third quarter valued at approximately $32,000. Root Financial Partners LLC acquired a new position in First Citizens BancShares during the third quarter worth approximately $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.8%

NASDAQ FCNCA opened at $1,907.53 on Tuesday. The stock has a market cap of $22.78 billion, a PE ratio of 11.51 and a beta of 0.68. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21. The business has a 50 day moving average price of $2,073.44 and a two-hundred day moving average price of $1,957.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is 5.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCNCA. TD Cowen dropped their price objective on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a report on Monday, January 26th. Piper Sandler lifted their target price on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a research report on Wednesday, February 4th. Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $2,100.00 to $2,200.00 in a research note on Thursday, November 20th. Finally, Barclays decreased their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares 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.