First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,781 shares of the bank's stock after selling 2,710 shares during the period. Bank of New York Mellon Corp owned 0.28% of First Citizens BancShares worth $84,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares in the 4th quarter worth approximately $33,000. Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after purchasing an additional 6 shares in the last quarter. Mather Group LLC. increased its holdings in shares of First Citizens BancShares by 38.5% during the fourth 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. Asset Planning Inc acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at $38,000. Finally, Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the third quarter valued at about $39,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Down 2.9 %

Shares of FCNCA traded down $58.44 during mid-day trading on Monday, reaching $1,989.62. The company's stock had a trading volume of 61,250 shares, compared to its average volume of 66,246. First Citizens BancShares, Inc. has a 1 year low of $1,505.73 and a 1 year 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 market cap of $27.83 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The business has a fifty day moving average of $2,139.06 and a 200 day moving average of $2,073.44.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares's payout ratio is presently 4.12%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on 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. Piper Sandler boosted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 target price on the stock. JPMorgan Chase & Co. increased 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 note on Tuesday, January 7th. Finally, Citigroup lowered shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,323.50.

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.