Kestra Private Wealth Services LLC Trims Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kestra Private Wealth Services LLC decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 409 shares of the bank’s stock after selling 12 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in First Citizens BancShares were worth $864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after purchasing an additional 30,828 shares during the period. International Assets Investment Management LLC raised 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. Commerce Bank raised its position in First Citizens BancShares by 4,762.2% in the third quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after purchasing an additional 20,906 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after purchasing an additional 20,149 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays boosted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Trading Down 0.9 %

FCNCA opened at $2,107.02 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,467.51 and a 12 month high of $2,412.93. The stock has a market capitalization of $29.48 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.00 and a beta of 0.85. 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 business has a fifty day moving average price of $2,146.68 and a 200 day moving average price of $2,065.53.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

About First Citizens BancShares

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.