First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Trust Co of the South

Trust Co of the South lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 136.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the bank’s stock after acquiring an additional 547 shares during the period. Trust Co of the South’s holdings in First Citizens BancShares were worth $2,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates grew its holdings in shares of First Citizens BancShares by 5.1% during the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after purchasing an additional 811 shares during the last quarter. Balentine LLC bought a new position in First Citizens BancShares during the 3rd quarter worth $3,564,000. Hiddenite Capital Partners LP increased its position in First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after buying an additional 400 shares during the period. Retireful LLC bought a new stake in First Citizens BancShares in the third quarter valued at $801,000. Finally, Oliver Luxxe Assets LLC boosted its holdings in shares of First Citizens BancShares by 22.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after acquiring an additional 537 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FCNCA shares. JPMorgan Chase & Co. decreased their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Wedbush reduced 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 research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2,243.64.

First Citizens BancShares Stock Up 0.2 %

Shares of First Citizens BancShares stock traded up $4.93 during midday trading on Thursday, reaching $2,117.95. 24,075 shares of the company’s stock traded hands, compared to its average volume of 87,217. The company has a market cap of $29.63 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The company’s 50 day simple moving average is $2,135.73 and its 200 day simple moving average is $1,979.32. 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 (NASDAQ:FCNCA) last released its quarterly 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). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $55.92 EPS. Equities analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $1.95 per share. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 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.