First Trust Advisors LP Has $34.81 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

First Trust Advisors LP lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 43.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,454 shares of the bank’s stock after selling 15,254 shares during the period. First Trust Advisors LP owned about 0.15% of First Citizens BancShares worth $34,807,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FCNCA. SBI Securities Co. Ltd. bought a new position in First Citizens BancShares in the third quarter valued at about $27,000. UMB Bank n.a. increased its holdings in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after buying an additional 8 shares in the last quarter. Steph & Co. acquired a new position in First Citizens BancShares in the 3rd quarter worth about $32,000. Root Financial Partners LLC acquired a new position in shares of First Citizens BancShares in the third quarter valued at approximately $32,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in First Citizens BancShares by 280.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after acquiring an additional 14 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group set a $2,325.00 price target on First Citizens BancShares in a research note on Wednesday, February 4th. TD Cowen lowered their price target on shares of 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. Citigroup restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Stock Down 1.9%

Shares of First Citizens BancShares stock opened at $1,822.91 on Friday. The stock’s 50-day moving average is $2,056.27 and its 200 day moving average is $1,955.71. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of 11.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 0.5%. First Citizens BancShares’s payout ratio is currently 5.07%.

About First Citizens BancShares

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.