Blue Trust Inc. Raises Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Blue Trust Inc. lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 29.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 187 shares of the bank’s stock after acquiring an additional 42 shares during the quarter. Blue Trust Inc.’s holdings in First Citizens BancShares were worth $395,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted 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 last quarter. JPMorgan Chase & Co. boosted its position in First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after buying an additional 18,501 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after acquiring an additional 7,613 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of First Citizens BancShares by 2.1% in the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after acquiring an additional 1,183 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after acquiring an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,204.69 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,438.08 and a 1 year high of $2,412.93. The firm’s 50-day moving average is $2,164.29 and its 200 day moving average is $2,049.40. The stock has a market cap of $30.84 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.00 and a beta of 0.86. 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 (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FCNCA. The Goldman Sachs Group boosted their price target 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. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Wedbush reduced their price objective 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 raised their target price 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 report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Seven equities 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 stock currently has an average rating of “Moderate Buy” and an average price target 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.