First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Lifted by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 268 shares of the bank’s stock after buying an additional 24 shares during the quarter. Coldstream Capital Management Inc.’s holdings in First Citizens BancShares were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FCNCA. M&T Bank Corp raised its stake in shares of First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Barclays PLC lifted its stake in First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank’s stock valued at $13,246,000 after acquiring an additional 1,158 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of First Citizens BancShares by 6.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,856 shares of the bank’s stock worth $5,258,000 after purchasing an additional 180 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth $204,000. Finally, MML Investors Services LLC raised its holdings in shares of First Citizens BancShares by 4.0% during the 3rd quarter. MML Investors Services LLC now owns 1,297 shares of the bank’s stock valued at $2,388,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FCNCA shares. Citigroup raised shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective 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. 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 target price for the company. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,157.64.

First Citizens BancShares Trading Up 0.6 %

Shares of First Citizens BancShares stock opened at $2,086.91 on Friday. The company’s fifty day moving average price is $2,113.46 and its two-hundred day moving average price is $1,939.71. The firm has a market capitalization of $29.20 billion, a PE ratio of 11.96 and a beta of 0.83. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period last year, the company earned $55.92 EPS. On average, analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed 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. This represents a $7.80 annualized dividend and a yield of 0.37%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

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.