Oppenheimer & Co. Inc. Sells 18 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Oppenheimer & Co. Inc. decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,467 shares of the bank’s stock after selling 18 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in First Citizens BancShares were worth $3,100,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. M&T Bank Corp increased its stake in First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after acquiring an additional 5 shares during the last quarter. Mather Group LLC. increased 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 worth $38,000 after purchasing an additional 5 shares during the last quarter. Private Advisor Group LLC raised its stake in First Citizens BancShares by 3.0% during 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 in the last quarter. Metis Global Partners LLC raised its stake in First Citizens BancShares by 4.9% during 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 in the last quarter. Finally, Hemington Wealth Management lifted its position in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing 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 FCNCA opened at $2,048.06 on Friday. The firm has a fifty day moving average price of $2,139.06 and a 200-day moving average price of $2,072.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market capitalization 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 12-month low of $1,505.73 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s payout ratio is 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial upped their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Piper Sandler increased their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target 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.