PNC Financial Services Group Inc. Reduces Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

PNC Financial Services Group Inc. lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 29.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 615 shares of the bank’s stock after selling 252 shares during the period. PNC Financial Services Group Inc.’s holdings in First Citizens BancShares were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FCNCA. LRI Investments LLC purchased a new position in shares of First Citizens BancShares during the first quarter valued at approximately $33,000. V Square Quantitative Management LLC bought a new position in First Citizens BancShares in the 2nd quarter valued at $35,000. Gradient Investments LLC purchased a new stake in First Citizens BancShares in the second quarter worth $52,000. Blue Trust Inc. lifted its position in shares of First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the period. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Down 0.8 %

First Citizens BancShares 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 stock has a market cap of $32.30 billion, a PE ratio of 13.33 and a beta of 0.80. The stock has a 50-day moving average of $2,033.61 and a two-hundred day moving average of $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.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $55.92 EPS. On average, research 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 issued 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 an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio is 3.76%.

Analyst Ratings Changes

FCNCA has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted 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 upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush reduced their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock 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 for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,093.40.

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.