First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 844 shares of the bank’s stock after selling 9 shares during the quarter. Gulf International Bank UK Ltd’s holdings in First Citizens BancShares were worth $1,783,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its position in First Citizens BancShares by 0.8% in 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 during the period. Mather Group LLC. raised its position in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the period. Private Advisor Group LLC raised its position in First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after purchasing an additional 5 shares during the period. Metis Global Partners LLC raised its position in First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after purchasing an additional 6 shares during the period. Finally, Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 0.6 %

Shares of First Citizens BancShares stock opened at $2,048.06 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $28.65 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a fifty-two week low of $1,505.73 and a fifty-two week high of $2,412.93. The business has a 50-day moving average price of $2,139.06 and a 200 day moving average price of $2,072.40.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal 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 paid a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. First Citizens BancShares’s payout ratio is currently 4.12%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

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.