Alberta Investment Management Corp Sells 2,000 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Alberta Investment Management Corp decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,176 shares of the bank's stock after selling 2,000 shares during the quarter. Alberta Investment Management Corp owned 0.20% of First Citizens BancShares worth $59,536,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC grew its holdings in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after acquiring an additional 33,713 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after acquiring an additional 18,501 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock worth $107,749,000 after acquiring an additional 7,613 shares during the last quarter. Reinhart Partners LLC. grew its holdings in First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock worth $122,516,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after acquiring an additional 30,828 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Down 3.2 %

Shares of FCNCA traded down $67.86 during mid-day trading on Friday, hitting $2,049.25. 72,498 shares of the company's stock were exchanged, compared to its average volume of 62,850. The company has a market cap of $28.67 billion, a PE ratio of 10.82, a P/E/G ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a 52 week low of $1,500.94 and a 52 week high of $2,412.93. The company has a 50-day simple moving average of $2,145.78 and a 200 day simple moving average of $2,070.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.38%. First Citizens BancShares's dividend payout ratio is presently 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 target price on the stock. The Goldman Sachs Group upped 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 report on Tuesday, November 26th. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $2,323.50.

First Citizens BancShares 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.