ArrowMark Colorado Holdings LLC Sells 1,000 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

ArrowMark Colorado Holdings LLC trimmed its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,495 shares of the bank’s stock after selling 1,000 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in First Citizens BancShares were worth $21,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in First Citizens BancShares by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank’s stock valued at $14,339,000 after acquiring an additional 365 shares during the period. Janus Henderson Group PLC grew its holdings in First Citizens BancShares by 1.2% in the 1st quarter. Janus Henderson Group PLC now owns 903 shares of the bank’s stock valued at $1,475,000 after buying an additional 11 shares during the last quarter. Tidal Investments LLC increased its position in First Citizens BancShares by 11.7% in the 1st quarter. Tidal Investments LLC now owns 592 shares of the bank’s stock worth $968,000 after buying an additional 62 shares during the period. Swedbank AB acquired a new stake in shares of First Citizens BancShares in the first quarter worth $3,844,000. Finally, Cetera Investment Advisers increased its position in First Citizens BancShares by 301.3% during the first quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock worth $2,034,000 after acquiring an additional 934 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCNCA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut 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 research report on Friday, October 25th. The Goldman Sachs Group upped their target price 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. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Wedbush decreased 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 research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,093.40.

First Citizens BancShares Price Performance

FCNCA opened at $2,295.00 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $32.11 billion, a PE ratio of 13.15 and a beta of 0.80. The company has a fifty day moving average price of $2,055.78 and a two-hundred day moving average price of $1,913.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for 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 business posted $55.92 EPS. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s payout ratio is currently 3.76%.

First Citizens BancShares Company 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.