BidaskClub cut shares of First Citizens BancShares (NASDAQ:FCNCA) from a hold rating to a sell rating in a report released on Tuesday morning, BidAskClub reports.

Separately, ValuEngine lowered shares of First Citizens BancShares from a sell rating to a strong sell rating in a report on Wednesday, January 29th.

NASDAQ FCNCA traded down $2.75 on Tuesday, hitting $531.79. 293 shares of the company’s stock traded hands, compared to its average volume of 41,498. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $528.76 and its two-hundred day moving average price is $494.88. First Citizens BancShares has a 1-year low of $381.50 and a 1-year high of $542.12. The firm has a market capitalization of $5.72 billion, a PE ratio of 12.99 and a beta of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Tuesday, January 28th. The bank reported $9.55 earnings per share (EPS) for the quarter. The firm had revenue of $431.52 million during the quarter. First Citizens BancShares had a net margin of 25.13% and a return on equity of 12.86%.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Monday, March 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.30%.

Several institutional investors and hedge funds have recently modified their holdings of FCNCA. Morgan Stanley increased its stake in shares of First Citizens BancShares by 111.0% during the second quarter. Morgan Stanley now owns 4,884 shares of the bank’s stock worth $2,198,000 after buying an additional 2,569 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of First Citizens BancShares during the second quarter worth approximately $7,766,000. Meeder Asset Management Inc. grew its position in shares of First Citizens BancShares by 11.9% during the third quarter. Meeder Asset Management Inc. now owns 971 shares of the bank’s stock worth $457,000 after acquiring an additional 103 shares during the last quarter. Brinker Capital Inc. lifted its holdings in shares of First Citizens BancShares by 3.9% during the third quarter. Brinker Capital Inc. now owns 3,426 shares of the bank’s stock worth $1,616,000 after purchasing an additional 129 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of First Citizens BancShares by 8.4% during the third quarter. Great West Life Assurance Co. Can now owns 174,747 shares of the bank’s stock worth $82,407,000 after purchasing an additional 13,551 shares during the period. 46.00% of the stock is currently owned by institutional investors and hedge funds.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.

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