Alberta Investment Management Corp Sells 2,000 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Alberta Investment Management Corp reduced its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,176 shares of the bank’s stock after selling 2,000 shares during the quarter. Alberta Investment Management Corp owned 0.20% of First Citizens BancShares worth $59,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FCNCA. M&T Bank Corp raised its position in First Citizens BancShares by 0.8% in the third 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 last quarter. Mather Group LLC. raised its position in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Metis Global Partners LLC raised its position in First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after purchasing an additional 6 shares during the last quarter. Hemington Wealth Management raised its position in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in First Citizens BancShares by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 2,309 shares of the bank’s stock valued at $5,122,000 after purchasing an additional 6 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Up 1.2 %

NASDAQ FCNCA opened at $2,167.32 on Wednesday. First Citizens BancShares, Inc. has a 1-year low of $1,475.85 and a 1-year high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average of $2,143.58 and a 200-day moving average of $2,066.03. The firm has a market cap of $30.32 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. The Goldman Sachs Group increased their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler increased their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.