Sanctuary Advisors LLC reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 41.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,303 shares of the bank's stock after selling 1,649 shares during the quarter. Sanctuary Advisors LLC's holdings in First Citizens BancShares were worth $4,240,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank's stock worth $108,000 after purchasing an additional 36 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of First Citizens BancShares by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,380 shares of the bank's stock worth $42,730,000 after buying an additional 1,628 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of First Citizens BancShares during the second quarter valued at approximately $278,000. Colton Groome Financial Advisors LLC bought a new stake in shares of First Citizens BancShares during the second quarter valued at approximately $337,000. Finally, LRI Investments LLC raised its holdings in First Citizens BancShares by 1,005.0% in the 2nd quarter. LRI Investments LLC now owns 221 shares of the bank's stock worth $373,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.
Shares of FCNCA stock opened at $2,123.44 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 12.17 and a beta of 0.83. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The firm has a fifty day moving average price of $2,117.01 and a 200-day moving average price of $1,943.90.
First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the firm posted $55.92 earnings per share. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.37%. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares's dividend payout ratio is currently 4.47%.
A number of research firms have commented on FCNCA. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Wedbush decreased their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,157.64.
View Our Latest Stock Analysis on FCNCA
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.
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