First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,623 shares of the bank’s stock after selling 19 shares during the period. First Citizens BancShares accounts for about 1.5% of Sendero Wealth Management LLC’s portfolio, making the stock its 13th largest position. Sendero Wealth Management LLC’s holdings in First Citizens BancShares were worth $9,768,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in First Citizens BancShares during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its holdings in shares of First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares in the last quarter. Quarry LP bought a new stake in shares of First Citizens BancShares in the 2nd quarter worth $126,000. Private Trust Co. NA boosted its position in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in First Citizens BancShares in the third quarter worth approximately $177,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 0.6 %

NASDAQ FCNCA opened at $2,152.52 on Thursday. 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 market cap of $30.11 billion, a price-to-earnings ratio of 12.33 and a beta of 0.86. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The business’s fifty day moving average is $2,167.37 and its 200 day moving average is $2,011.73.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $55.92 EPS. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 188.21 EPS 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. Investors of record on Friday, November 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FCNCA shares. UBS Group began coverage on shares of 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. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush decreased 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. The Goldman Sachs Group raised their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.