Nordea Investment Management AB Has $8.67 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Nordea Investment Management AB cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 41.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,070 shares of the bank's stock after selling 2,917 shares during the quarter. Nordea Investment Management AB's holdings in First Citizens BancShares were worth $8,669,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares in the third quarter worth $39,000. GAMMA Investing LLC grew its position in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock worth $114,000 after purchasing an additional 35 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of First Citizens BancShares by 17.7% during the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank's stock worth $124,000 after purchasing an additional 11 shares during the period. Quarry LP acquired a new position in shares of First Citizens BancShares during the second quarter valued at about $126,000. Finally, Private Trust Co. NA lifted its stake in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank's stock valued at $162,000 after buying an additional 84 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 1.4 %

FCNCA traded down $30.20 during mid-day trading on Friday, hitting $2,063.80. The stock had a trading volume of 69,680 shares, compared to its average volume of 66,047. The stock's fifty day simple moving average is $2,159.07 and its 200-day simple moving average is $1,996.68. The firm has a market capitalization of $28.87 billion, a price-to-earnings ratio of 11.82 and a beta of 0.86. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. 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 announced 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). The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter last year, the company earned $55.92 earnings per share. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 188.21 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, November 29th. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective for the company. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. The Goldman Sachs Group increased 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. Finally, StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of "Hold" and a consensus price target of $2,290.75.

About First Citizens BancShares

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.