Amalgamated Bank Cuts Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Amalgamated Bank lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 618 shares of the bank’s stock after selling 12 shares during the period. Amalgamated Bank’s holdings in First Citizens BancShares were worth $1,306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. abrdn plc lifted its position in shares of First Citizens BancShares by 44.4% during the third quarter. abrdn plc now owns 2,425 shares of the bank’s stock worth $4,464,000 after purchasing an additional 746 shares in the last quarter. US Bancorp DE lifted its stake in First Citizens BancShares by 17.0% during the third quarter. US Bancorp DE now owns 654 shares of the bank’s stock worth $1,204,000 after purchasing an additional 95 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in First Citizens BancShares by 5.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 986 shares of the bank’s stock worth $1,815,000 after purchasing an additional 48 shares during the period. Janney Montgomery Scott LLC increased its stake in First Citizens BancShares by 6.9% during the third quarter. Janney Montgomery Scott LLC now owns 3,760 shares of the bank’s stock valued at $6,922,000 after purchasing an additional 244 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new stake in shares of First Citizens BancShares during the third quarter worth $677,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCNCA. Piper Sandler lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Down 2.9 %

First Citizens BancShares stock opened at $1,989.62 on Tuesday. First Citizens BancShares, Inc. has a 52 week low of $1,505.73 and a 52 week high of $2,412.93. The stock has a market cap of $27.01 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.94 and a beta of 0.85. The company’s 50-day moving average price is $2,139.06 and its two-hundred day moving average price is $2,073.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.39%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

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.