Toronto Dominion Bank Cuts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Toronto Dominion Bank lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 96.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,223 shares of the bank’s stock after selling 33,787 shares during the period. Toronto Dominion Bank’s holdings in First Citizens BancShares were worth $2,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. increased its holdings in First Citizens BancShares by 9.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 268 shares of the bank’s stock valued at $500,000 after acquiring an additional 24 shares during the last quarter. M&T Bank Corp grew its position in shares of First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 5 shares in the last quarter. Barclays PLC increased its holdings in shares of First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank’s stock worth $13,246,000 after purchasing an additional 1,158 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of First Citizens BancShares by 6.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,856 shares of the bank’s stock worth $5,258,000 after buying an additional 180 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in First Citizens BancShares during the third quarter valued at approximately $204,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Up 0.6 %

FCNCA opened at $2,086.91 on Monday. First Citizens BancShares, Inc. has a one year low of $1,363.97 and a one year high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $29.20 billion, a price-to-earnings ratio of 11.96 and a beta of 0.83. The stock’s 50 day moving average price is $2,113.46 and its 200-day moving average price is $1,941.09.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results 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). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $55.92 EPS. On average, equities analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business 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 dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Wedbush decreased their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Citigroup upgraded shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,157.64.

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.