Hennessy Advisors Inc. Cuts Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hennessy Advisors Inc. lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the bank’s stock after selling 100 shares during the quarter. Hennessy Advisors Inc.’s holdings in First Citizens BancShares were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FCNCA. Toronto Dominion Bank lifted its stake in First Citizens BancShares by 3,577.5% in the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after purchasing an additional 34,058 shares during the last quarter. FMR LLC lifted its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after buying an additional 33,713 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after acquiring an additional 29,194 shares during the last quarter. International Assets Investment Management LLC raised its stake in First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after acquiring an additional 23,919 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in First Citizens BancShares by 6,773.9% during the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.5 %

FCNCA stock opened at $2,188.94 on Friday. The company has a market capitalization of $30.62 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a one year low of $1,371.77 and a one year high of $2,388.78. The company’s 50 day moving average price is $2,167.50 and its two-hundred day moving average price is $2,018.15.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $55.92 EPS. As a group, analysts predict that First Citizens BancShares, Inc. will post 186.98 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.36%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is presently 4.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FCNCA shares. Wedbush lowered their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. UBS Group assumed coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday. Seven equities 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $2,290.75.

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.