First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Lowered by Bank of Montreal Can

Bank of Montreal Can lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,184 shares of the bank’s stock after selling 7,765 shares during the quarter. Bank of Montreal Can owned approximately 0.15% of First Citizens BancShares worth $40,941,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Wedbush Securities Inc. boosted its stake in shares of First Citizens BancShares by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock valued at $2,019,000 after buying an additional 6 shares during the period. Metis Global Partners LLC boosted its stake in shares of First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after buying an additional 6 shares during the period. HB Wealth Management LLC boosted its stake in shares of First Citizens BancShares by 3.9% during the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock valued at $315,000 after buying an additional 7 shares during the period. Tandem Capital Management Corp ADV boosted its stake in shares of First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after buying an additional 8 shares during the period. Finally, Mount Lucas Management LP boosted its stake in shares of First Citizens BancShares by 2.6% during the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,308.48 on Friday. The company has a market capitalization of $32.30 billion, a PE ratio of 13.23 and a beta of 0.80. First Citizens BancShares, Inc. has a one year low of $1,363.97 and a one year high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day moving average price is $2,041.80 and its 200 day moving average price is $1,904.59.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate 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 return on equity of 13.63% and a net margin of 17.36%. During the same quarter last year, the business earned $55.92 EPS. As a group, analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.34%. The ex-dividend date is 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 3.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wedbush decreased their target price 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. The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares Company Profile

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.