Toronto Dominion Bank Decreases Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Toronto Dominion Bank cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 96.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,223 shares of the bank's stock after selling 33,787 shares during the period. Toronto Dominion Bank's holdings in First Citizens BancShares were worth $2,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FCNCA. M&T Bank Corp lifted its stake in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank's stock valued at $1,117,000 after purchasing an additional 5 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of 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 grew its position in shares of 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 during the period. HB Wealth Management LLC increased its stake in shares of First Citizens BancShares by 3.9% in the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank's stock valued at $315,000 after acquiring an additional 7 shares in the last quarter. Finally, Tandem Capital Management Corp ADV lifted its position 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 valued at $845,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

FCNCA traded up $36.53 on Monday, hitting $2,123.44. The company's stock had a trading volume of 89,489 shares, compared to its average volume of 87,587. The company's 50 day simple moving average is $2,113.46 and its 200-day simple moving average is $1,941.09. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The firm has a market cap of $29.70 billion, a P/E ratio of 12.13 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the firm earned $55.92 EPS. Analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.95 dividend. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.47%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price target on the stock. Citigroup upgraded First Citizens BancShares from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Wedbush lowered their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $2,157.64.

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.