First Citizens BancShares, Inc. (NASDAQ:FCNCA) is Cortland Associates Inc. MO's 6th Largest Position

Cortland Associates Inc. MO lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,012 shares of the bank's stock after selling 465 shares during the quarter. First Citizens BancShares comprises 6.7% of Cortland Associates Inc. MO's portfolio, making the stock its 6th biggest holding. Cortland Associates Inc. MO owned 0.20% of First Citizens BancShares worth $59,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the third quarter valued at approximately $39,000. GAMMA Investing LLC increased its holdings in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after acquiring an additional 35 shares during the last quarter. Quarry LP purchased a new stake in First Citizens BancShares in the 2nd quarter worth $126,000. Private Trust Co. NA boosted its holdings in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock valued at $162,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in shares of First Citizens BancShares during the third quarter valued at about $177,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. Wedbush dropped their price target on 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. Barclays increased their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday. StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, Truist Financial lifted their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2,323.50.

First Citizens BancShares Trading Up 0.8 %

Shares of FCNCA traded up $18.12 during trading hours on Thursday, reaching $2,218.06. 26,810 shares of the company traded hands, compared to its average volume of 76,257. First Citizens BancShares, Inc. has a 12-month low of $1,438.08 and a 12-month high of $2,412.93. The stock's fifty day moving average price is $2,169.22 and its 200 day moving average price is $2,045.22. The firm has a market cap of $31.03 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.03 and a beta of 0.86. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.63% and a net margin of 17.36%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 0.35%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

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.