Trust Co of the South Has $2 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Trust Co of the South boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 136.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the bank's stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCNCA. M&T Bank Corp lifted its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Wedbush Securities Inc. lifted its position in First Citizens BancShares by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank's stock worth $2,019,000 after buying an additional 6 shares in the last quarter. Metis Global Partners LLC lifted its position in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock worth $237,000 after buying an additional 6 shares in the last quarter. 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 worth $845,000 after buying an additional 8 shares during the last quarter. Finally, Mount Lucas Management LP grew its holdings in shares of First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank's stock valued at $580,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded down $10.46 during midday trading on Thursday, hitting $2,102.56. The stock had a trading volume of 48,540 shares, compared to its average volume of 87,217. The company's 50-day moving average price is $2,140.19 and its 200-day moving average price is $1,980.18. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78. 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 capitalization of $29.41 billion, a P/E ratio of 12.05 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business posted $55.92 EPS. As a group, equities research analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS 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. Shareholders of record on Friday, November 29th were paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Friday, November 29th. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's payout ratio is presently 4.47%.

Analysts Set New Price Targets

Several research firms have recently commented on FCNCA. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective for the company. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. dropped their target price 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. Wedbush reduced 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 report on Friday, October 25th. Finally, Citigroup lowered First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2,243.64.

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.