TD Private Client Wealth LLC Sells 19 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

TD Private Client Wealth LLC decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 988 shares of the bank’s stock after selling 19 shares during the quarter. TD Private Client Wealth LLC’s holdings in First Citizens BancShares were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. grew its position in First Citizens BancShares by 4.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,586 shares of the bank’s stock valued at $5,464,000 after purchasing an additional 106 shares in the last quarter. Holderness Investments Co. grew its position in First Citizens BancShares by 5.3% in the fourth quarter. Holderness Investments Co. now owns 638 shares of the bank’s stock valued at $1,348,000 after purchasing an additional 32 shares in the last quarter. Whittier Trust Co. grew its position in First Citizens BancShares by 6.3% in the fourth quarter. Whittier Trust Co. now owns 5,978 shares of the bank’s stock valued at $12,632,000 after purchasing an additional 352 shares in the last quarter. Xponance Inc. grew its position in First Citizens BancShares by 15.7% in the fourth quarter. Xponance Inc. now owns 1,119 shares of the bank’s stock valued at $2,364,000 after purchasing an additional 152 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in First Citizens BancShares by 68.7% in the fourth quarter. Intech Investment Management LLC now owns 1,044 shares of the bank’s stock valued at $2,206,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $1,851.20 on Friday. First Citizens BancShares, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. 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 company has a 50-day simple moving average of $2,052.67 and a two-hundred day simple moving average of $2,055.18. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Insiders Place Their Bets

In other news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FCNCA. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods increased their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group cut their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,288.08.

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.