Trust Co of the South Buys 547 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Trust Co of the South raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 136.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 947 shares of the bank’s stock after acquiring an additional 547 shares during the quarter. Trust Co of the South’s holdings in First Citizens BancShares were worth $2,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in First Citizens BancShares during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 35 shares during the last quarter. National Bank of Canada FI lifted its position in First Citizens BancShares by 17.7% during the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after buying an additional 11 shares in the last quarter. Quarry LP bought a new stake in First Citizens BancShares during the 2nd quarter worth about $126,000. Finally, Private Trust Co. NA raised its stake in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after acquiring an additional 84 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 0.2 %

FCNCA traded up $4.93 during trading on Thursday, reaching $2,117.95. The company had a trading volume of 24,075 shares, compared to its average volume of 87,217. The business’s fifty day moving average price is $2,135.73 and its 200 day moving average price is $1,979.32. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The company has a market cap of $29.63 billion, a P/E ratio of 12.13 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the business earned $55.92 EPS. Equities analysts anticipate 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 was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date was Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, UBS Group initiated coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2,243.64.

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.