Generate Investment Management Ltd Has $9.36 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Generate Investment Management Ltd lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,428 shares of the bank's stock after selling 11,221 shares during the period. Generate Investment Management Ltd's holdings in First Citizens BancShares were worth $9,356,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FCNCA. FMR LLC lifted its position in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after acquiring an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of First Citizens BancShares by 128.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock valued at $115,859,000 after purchasing an additional 30,828 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank's stock valued at $440,580,000 after purchasing an additional 23,919 shares in the last quarter. Commerce Bank boosted its position in shares of First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank's stock worth $39,295,000 after buying an additional 20,906 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of First Citizens BancShares by 337.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock worth $48,095,000 after buying an additional 20,149 shares in the last quarter. Institutional investors own 78.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FCNCA shares. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price on the stock. Truist Financial increased their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. The Goldman Sachs Group boosted their target price on shares of 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. Citigroup cut shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,323.50.

First Citizens BancShares Price Performance

Shares of FCNCA stock traded up $1.37 on Tuesday, hitting $2,155.94. 49,184 shares of the company's stock were exchanged, compared to its average volume of 70,381. The company has a 50 day moving average of $2,148.13 and a 200 day moving average of $2,065.11. The stock has a market cap of $30.16 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. 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, Inc. has a 12 month low of $1,460.76 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS 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, equities research analysts predict that First Citizens BancShares, Inc. will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

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.