Generate Investment Management Ltd Sells 11,221 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Generate Investment Management Ltd cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 71.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,428 shares of the bank’s stock after selling 11,221 shares during the quarter. Generate Investment Management Ltd’s holdings in First Citizens BancShares were worth $9,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its position in First Citizens BancShares by 9.4% in the third quarter. Park Avenue Securities LLC now owns 395 shares of the bank’s stock worth $728,000 after purchasing an additional 34 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the last quarter. UMB Bank n.a. bought a new stake in First Citizens BancShares during the third quarter valued at approximately $177,000. Reinhart Partners LLC. increased its holdings in First Citizens BancShares by 0.7% during the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock valued at $104,562,000 after buying an additional 416 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in First Citizens BancShares by 32.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,249 shares of the bank’s stock worth $9,647,000 after acquiring an additional 1,292 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 0.4 %

Shares of FCNCA stock opened at $2,218.40 on Friday. First Citizens BancShares, Inc. has a 52 week low of $1,460.76 and a 52 week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company’s fifty day simple moving average is $2,152.11 and its two-hundred day simple moving average is $2,058.74. The stock has a market cap of $31.04 billion, a P/E ratio of 11.71, a PEG ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating 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%. Analysts predict that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent research reports. Wedbush cut their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on 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. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven 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 target price of $2,323.50.

First Citizens BancShares 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.