Sumitomo Mitsui DS Asset Management Company Ltd Sells 51 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 939 shares of the bank’s stock after selling 51 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Citizens BancShares were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Life Planners bought a new position in First Citizens BancShares in the fourth quarter valued at about $33,000. Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% during 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 during the period. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares in the 3rd quarter valued at about $39,000. GAMMA Investing LLC grew its position in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the period. Finally, Private Trust Co. NA raised its stake in shares of First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 2.9 %

First Citizens BancShares stock opened at $2,154.57 on Tuesday. The stock has a market capitalization of $30.14 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a twelve month low of $1,460.76 and a twelve month high of $2,412.93. 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 50 day moving average of $2,149.21 and a 200-day moving average of $2,064.79.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s payout ratio is presently 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. Barclays raised their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. The Goldman Sachs Group lifted their price objective 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. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Finally, Wedbush cut 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

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.