Pitcairn Co. Sells 32 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Pitcairn Co. reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 22.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112 shares of the bank’s stock after selling 32 shares during the quarter. Pitcairn Co.’s holdings in First Citizens BancShares were worth $206,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FCNCA. Toronto Dominion Bank raised its stake in shares of First Citizens BancShares by 3,577.5% in the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock worth $58,943,000 after purchasing an additional 34,058 shares during the last quarter. Zurich Insurance Group Ltd FI raised its position in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after buying an additional 29,194 shares during the last quarter. International Assets Investment Management LLC raised its position in First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after buying an additional 23,919 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in First Citizens BancShares by 6,773.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after acquiring an additional 23,573 shares during the period. Finally, Commerce Bank boosted its holdings in shares of First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after acquiring an additional 20,906 shares during the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,308.48 on Thursday. 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’s fifty day moving average price is $2,033.61 and its 200-day moving average price is $1,901.75. First Citizens BancShares, Inc. has a one year low of $1,363.97 and a one year high of $2,388.78. The company has a market capitalization of $32.30 billion, a PE ratio of 13.23 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $55.92 EPS. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

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

Analyst Ratings Changes

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

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.