Cibc World Markets Corp Trims Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cibc World Markets Corp lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 22.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 457 shares of the bank’s stock after selling 134 shares during the quarter. Cibc World Markets Corp’s holdings in First Citizens BancShares were worth $966,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the 4th quarter worth approximately $36,000. Mather Group LLC. grew its stake in shares of First Citizens BancShares by 38.5% in the 4th 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. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

In other news, CFO Craig L. Nix purchased 17 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Stock Up 0.4 %

FCNCA opened at $1,851.20 on Friday. 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 company has a market cap of $25.13 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93. The business’s fifty day moving average is $2,052.67 and its two-hundred day moving average is $2,054.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

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.