AustralianSuper Pty Ltd Decreases Stake in First Citizens BancShares, Inc. $FCNCA

Key Points

• AustralianSuper reduced its stake in First Citizens BancShares by 35.6% in Q3, selling 1,339 shares and finishing the quarter with 2,420 shares valued at about $4.33 million.
• First Citizens beat quarterly expectations with EPS of $51.27 (vs. $44.24 est.) and $2.44 billion in revenue, announced a $2.10 quarterly dividend (annualized $8.40, ~0.4% yield), and holds a market cap of $24.54 billion with a consensus analyst rating of "Moderate Buy" (avg. target ~$2,238).

AustralianSuper Pty Ltd cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 35.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,420 shares of the bank's stock after selling 1,339 shares during the quarter. AustralianSuper Pty Ltd's holdings in First Citizens BancShares were worth $4,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in First Citizens BancShares during the 3rd quarter valued at about $27,000. UMB Bank n.a. lifted 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 period. Steph & Co. purchased a new stake in First Citizens BancShares in the third quarter valued at approximately $32,000. Root Financial Partners LLC acquired a new position in First Citizens BancShares in the 3rd quarter worth approximately $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank's stock worth $34,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Down 0.0%

First Citizens BancShares stock opened at $1,972.87 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $24.54 billion, a PE ratio of 11.90 and a beta of 0.68. The business has a 50 day simple moving average of $2,089.56 and a 200-day simple moving average of $1,957.86. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $44.24 by $7.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. On average, 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 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is currently 5.07%.

Analyst Ratings Changes

Several analysts have recently commented on FCNCA shares. Truist Financial upped their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a "hold" rating in a report on Monday, January 26th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of First Citizens BancShares in a research note on Monday, December 29th. Barclays lowered their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an "equal weight" rating on the stock in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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