Bank of Montreal Can Sells 7,765 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bank of Montreal Can decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 25.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,184 shares of the bank’s stock after selling 7,765 shares during the quarter. Bank of Montreal Can’s holdings in First Citizens BancShares were worth $40,941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA boosted its position in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after acquiring an additional 84 shares in the last quarter. Estate Counselors LLC boosted its position in shares of First Citizens BancShares by 2.6% during the 3rd quarter. Estate Counselors LLC now owns 985 shares of the bank’s stock valued at $1,813,000 after acquiring an additional 25 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of First Citizens BancShares by 8.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,227 shares of the bank’s stock valued at $4,099,000 after acquiring an additional 170 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of First Citizens BancShares by 9.2% during the 3rd quarter. Summit Trail Advisors LLC now owns 202 shares of the bank’s stock valued at $373,000 after acquiring an additional 17 shares in the last quarter. Finally, Seldon Capital LP boosted its position in shares of First Citizens BancShares by 25.1% during the 3rd quarter. Seldon Capital LP now owns 1,794 shares of the bank’s stock valued at $3,303,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 61.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FCNCA. The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush reduced their price target 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 report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,093.40.

First Citizens BancShares Trading Down 0.8 %

Shares of NASDAQ FCNCA opened at $2,308.48 on Friday. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The company has a market cap of $32.30 billion, a PE ratio of 13.23 and a beta of 0.80. 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 company has a 50-day moving average of $2,041.80 and a two-hundred day moving average of $1,904.59.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share 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 company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $55.92 earnings per share. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

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

About First Citizens BancShares

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.