Bank of New York Mellon Corp Sells 2,710 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bank of New York Mellon Corp lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,781 shares of the bank’s stock after selling 2,710 shares during the quarter. Bank of New York Mellon Corp’s holdings in First Citizens BancShares were worth $84,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in First Citizens BancShares by 3.0% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,415 shares of the bank’s stock valued at $7,216,000 after buying an additional 100 shares during the period. Transcend Capital Advisors LLC boosted its position in First Citizens BancShares by 4.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 180 shares of the bank’s stock valued at $380,000 after buying an additional 8 shares during the period. Paradigm Asset Management Co. LLC purchased a new stake in First Citizens BancShares during the fourth quarter valued at about $634,000. First Bank & Trust boosted its position in First Citizens BancShares by 9.2% during the fourth quarter. First Bank & Trust now owns 273 shares of the bank’s stock valued at $577,000 after buying an additional 23 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in First Citizens BancShares by 7.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 117 shares of the bank’s stock valued at $247,000 after buying an additional 8 shares during the period. Institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of several analyst reports. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Keefe, Bruyette & Woods increased 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. Finally, Piper Sandler increased their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,048.06 on Monday. 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 one year low of $1,505.73 and a one year high of $2,412.93. The company has a 50-day simple moving average of $2,139.06 and a two-hundred day simple moving average of $2,072.93. The firm has a market capitalization of $28.65 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 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%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm 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 dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

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.