Mayport LLC Trims Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mayport LLC lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553 shares of the bank’s stock after selling 54 shares during the period. Mayport LLC’s holdings in First Citizens BancShares were worth $1,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares in the 4th quarter worth about $33,000. Hemington Wealth Management lifted 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 period. Duncker Streett & Co. Inc. bought a new position in First Citizens BancShares during the 4th quarter valued at about $36,000. Mather Group LLC. lifted its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in First Citizens BancShares during the 4th quarter valued at about $38,000. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FCNCA has been the topic of several research analyst reports. JPMorgan Chase & Co. upped 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 research note on Tuesday, January 7th. Barclays raised their target price 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 note on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on shares of 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. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Down 2.9 %

FCNCA opened at $1,989.62 on Tuesday. 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 firm has a market cap of $27.01 billion, a P/E ratio of 10.50, a PEG ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a 52 week low of $1,505.73 and a 52 week high of $2,412.93. The business’s fifty day simple moving average is $2,139.06 and its 200 day simple moving average is $2,073.44.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.39%. First Citizens BancShares’s payout ratio is currently 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.