Simon Quick Advisors LLC Decreases Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Simon Quick Advisors LLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104 shares of the bank’s stock after selling 25 shares during the quarter. Simon Quick Advisors LLC’s holdings in First Citizens BancShares were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FCNCA. FMR LLC grew its stake in 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 acquiring an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock valued at $107,749,000 after purchasing an additional 7,613 shares during the last quarter. Reinhart Partners LLC. increased its holdings in shares of First Citizens BancShares by 2.1% in the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after purchasing an additional 1,183 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after buying an additional 1,339 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCNCA. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial started coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective for the company. Barclays boosted their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wedbush cut their price target 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, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2,290.75.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,225.00 on Friday. The business’s fifty day moving average price is $2,171.41 and its 200 day moving average price is $2,033.79. First Citizens BancShares, Inc. has a 12-month low of $1,383.00 and a 12-month high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

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.