Dimensional Fund Advisors LP Reduces Stake in First Citizens BancShares, Inc. $FCNCA

Dimensional Fund Advisors LP lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,569 shares of the bank’s stock after selling 9,516 shares during the quarter. Dimensional Fund Advisors LP’s holdings in First Citizens BancShares were worth $221,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares in the 3rd quarter valued at $27,000. UMB Bank n.a. raised its holdings in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the last quarter. Steph & Co. acquired a new position in First Citizens BancShares during the third quarter valued at $32,000. Root Financial Partners LLC purchased a new stake in First Citizens BancShares in the third quarter valued at $32,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in First Citizens BancShares by 280.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 2.6%

FCNCA stock opened at $1,892.44 on Friday. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm has a 50-day simple moving average of $2,078.57 and a 200-day simple moving average of $1,957.88. The stock has a market capitalization of $22.60 billion, a P/E ratio of 11.42 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. Equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s payout ratio is presently 5.07%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent research reports. TD Cowen reduced their price objective on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research note on Monday, January 26th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a research note on Tuesday, January 6th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.