Gulf International Bank UK Ltd Cuts Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gulf International Bank UK Ltd trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 844 shares of the bank’s stock after selling 9 shares during the period. Gulf International Bank UK Ltd’s holdings in First Citizens BancShares were worth $1,783,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FCNCA. Financial Life Planners purchased a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management increased its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares in the last quarter. Mather Group LLC. increased its stake in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares in the last quarter. Asset Planning Inc purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $38,000. Finally, Brooklyn Investment Group purchased a new position in First Citizens BancShares in the 3rd quarter valued at approximately $39,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Truist Financial raised 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 note on Wednesday, January 29th. UBS Group assumed coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on 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. Keefe, Bruyette & Woods raised their price target 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. Finally, Piper Sandler raised their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,048.06 on Friday. First Citizens BancShares, Inc. has a 52-week low of $1,505.73 and a 52-week high of $2,412.93. The stock’s fifty day simple moving average is $2,139.06 and its 200-day simple moving average is $2,072.40. 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 stock has a market capitalization of $28.65 billion, a price-to-earnings 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 posted its quarterly earnings data 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 return on equity of 13.22% and a net margin of 18.55%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed 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 annualized dividend 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 (DPR) is 4.12%.

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.