Wilmington Savings Fund Society FSB Purchases New Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Wilmington Savings Fund Society FSB acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,933 shares of the bank's stock, valued at approximately $5,400,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCNCA. Cetera Advisors LLC purchased a new stake in First Citizens BancShares in the 1st quarter valued at about $391,000. V Square Quantitative Management LLC purchased a new position in First Citizens BancShares in the 2nd quarter valued at approximately $35,000. Swedbank AB grew its stake in First Citizens BancShares by 2.2% in the 2nd quarter. Swedbank AB now owns 2,403 shares of the bank's stock valued at $4,046,000 after buying an additional 52 shares in the last quarter. Blue Trust Inc. grew its stake in First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank's stock valued at $108,000 after buying an additional 36 shares in the last quarter. Finally, Gradient Investments LLC purchased a new position in First Citizens BancShares in the 2nd quarter valued at approximately $52,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Up 0.1 %

FCNCA traded up $2.29 during trading hours on Friday, reaching $2,077.17. 24,898 shares of the company's stock traded hands, compared to its average volume of 87,443. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The firm has a market capitalization of $29.06 billion, a PE ratio of 11.89 and a beta of 0.83. The firm has a 50-day moving average price of $2,110.72 and a 200 day moving average price of $1,936.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) 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 during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $55.92 earnings per share. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.95 dividend. 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 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares's dividend payout ratio is currently 4.47%.

Analyst Ratings Changes

A number of research firms recently weighed in on FCNCA. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday. They issued a "buy" rating and a $2,600.00 price objective for the company. The Goldman Sachs Group lifted their price objective 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, November 26th. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. Citigroup upgraded shares of First Citizens BancShares from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Wedbush decreased their target price on shares of 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. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,157.64.

First Citizens BancShares Company 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.