Tobam Decreases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tobam lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139 shares of the bank’s stock after selling 51 shares during the quarter. Tobam’s holdings in First Citizens BancShares were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FCNCA. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $33,000. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the third quarter valued at $39,000. GAMMA Investing LLC boosted its stake in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Up 0.4 %

NASDAQ FCNCA opened at $2,218.40 on Friday. First Citizens BancShares, Inc. has a 52-week low of $1,460.76 and a 52-week high of $2,412.93. The firm has a 50-day moving average price of $2,152.11 and a 200 day moving average price of $2,058.74. The stock has a market capitalization of $31.04 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.00 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

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

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 0.35%. First Citizens BancShares’s payout ratio is currently 4.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FCNCA shares. JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Wedbush lowered their target price 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 report on Friday, October 25th. Barclays increased their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Company 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.