KBC Group NV Sells 13,088 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

KBC Group NV reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 72.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,028 shares of the bank’s stock after selling 13,088 shares during the quarter. KBC Group NV’s holdings in First Citizens BancShares were worth $10,624,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in First Citizens BancShares in the third quarter valued at approximately $39,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares in the last quarter. Quarry LP bought a new position in First Citizens BancShares during the second quarter worth $126,000. Private Trust Co. NA boosted its stake in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after acquiring an additional 84 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in First Citizens BancShares in the third quarter worth $177,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group started coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Wedbush lowered their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,199.94 on Thursday. The business’s fifty day moving average is $2,169.22 and its 200 day moving average is $2,045.22. The firm has a market cap of $30.77 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.03 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52-week low of $1,438.08 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. Research analysts predict that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

About First Citizens BancShares

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.