Sendero Wealth Management LLC Sells 19 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sendero Wealth Management LLC lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,623 shares of the bank’s stock after selling 19 shares during the period. First Citizens BancShares accounts for approximately 1.5% of Sendero Wealth Management LLC’s holdings, making the stock its 13th biggest position. Sendero Wealth Management LLC’s holdings in First Citizens BancShares were worth $9,768,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of 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 acquiring an additional 5 shares in the last quarter. Metis Global Partners LLC raised its position in 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 last quarter. Tandem Capital Management Corp ADV boosted its holdings in shares of First Citizens BancShares by 1.8% in 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 last quarter. Mount Lucas Management LP raised its holdings in shares of First Citizens BancShares by 2.6% during the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after purchasing an additional 8 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of First Citizens BancShares by 1.0% during the third quarter. TD Private Client Wealth LLC now owns 1,007 shares of the bank’s stock worth $1,854,000 after purchasing an additional 10 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FCNCA shares. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wedbush dropped 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. The Goldman Sachs Group lifted 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. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Finally, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,290.75.

First Citizens BancShares Trading Up 0.6 %

Shares of First Citizens BancShares stock opened at $2,152.52 on Thursday. The stock has a 50 day moving average of $2,167.37 and a 200 day moving average of $2,011.73. 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 $30.11 billion, a price-to-earnings ratio of 12.33 and a beta of 0.86. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data 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). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business posted $55.92 earnings per share. As a group, research analysts predict that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares’s payout ratio is 4.47%.

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.