First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,688 shares of the bank’s stock after selling 32 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Citizens BancShares were worth $7,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management lifted its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Mather Group LLC. lifted its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the third quarter worth about $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,167.32 on Wednesday. The stock has a market cap of $30.32 billion, a PE ratio of 11.44, a P/E/G ratio of 1.00 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a twelve month low of $1,475.85 and a twelve month high of $2,412.93. The stock has a fifty day simple moving average of $2,143.58 and a 200-day simple moving average of $2,066.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

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

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of research reports. UBS Group initiated coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Wedbush decreased their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods upped 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,323.50.

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.