First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 323,532 shares of the bank’s stock after purchasing an additional 33,713 shares during the period. Fmr LLC’s holdings in First Citizens BancShares were worth $595,607,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in First Citizens BancShares by 5.1% in the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after purchasing an additional 811 shares during the last quarter. Balentine LLC purchased a new stake in First Citizens BancShares in the 3rd quarter valued at about $3,564,000. Cetera Investment Advisers grew its holdings in First Citizens BancShares by 301.3% in the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock valued at $2,034,000 after buying an additional 934 shares during the period. Oliver Luxxe Assets LLC grew its holdings in First Citizens BancShares by 22.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after buying an additional 537 shares during the period. Finally, Hiddenite Capital Partners LP grew its holdings in First Citizens BancShares by 14.1% in the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 61.18% of the company’s stock.

Analysts Set New Price Targets

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

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,308.48 on Friday. The stock’s 50 day moving average price is $2,041.80 and its 200 day moving average price is $1,904.59. The firm has a market capitalization of $32.30 billion, a PE ratio of 13.23 and a beta of 0.80. 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 one year low of $1,363.97 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion for 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 firm posted $55.92 earnings per share. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.34%. First Citizens BancShares’s payout ratio is 3.76%.

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.