Vinva Investment Management Ltd Has $1.01 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Vinva Investment Management Ltd grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 547 shares of the bank’s stock after buying an additional 13 shares during the period. Vinva Investment Management Ltd’s holdings in First Citizens BancShares were worth $1,010,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. LRI Investments LLC bought a new stake in First Citizens BancShares during the first quarter worth about $33,000. V Square Quantitative Management LLC bought a new stake in shares of First Citizens BancShares during the second quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in First Citizens BancShares in the third quarter valued at approximately $39,000. Gradient Investments LLC bought a new position in First Citizens BancShares in the second quarter valued at approximately $52,000. Finally, Blue Trust Inc. boosted its stake in First Citizens BancShares by 120.0% in the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FCNCA shares. The Goldman Sachs Group increased their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Wedbush decreased their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,295.00 on Friday. The firm has a 50 day moving average of $2,049.18 and a 200-day moving average of $1,907.40. 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, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The firm has a market capitalization of $32.11 billion, a P/E ratio of 13.15 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the business posted $55.92 earnings per share. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.34%. First Citizens BancShares’s dividend payout ratio (DPR) is 3.76%.

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.