Azora Capital LP Sells 25,422 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Azora Capital LP decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,405 shares of the bank's stock after selling 25,422 shares during the period. First Citizens BancShares comprises about 3.4% of Azora Capital LP's holdings, making the stock its 12th largest holding. Azora Capital LP owned about 0.24% of First Citizens BancShares worth $63,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after acquiring an additional 33,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Citizens BancShares by 15.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock valued at $107,749,000 after acquiring an additional 7,613 shares during the last quarter. Reinhart Partners LLC. raised its stake in shares of First Citizens BancShares by 0.7% during the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank's stock valued at $104,562,000 after acquiring an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock valued at $86,812,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI raised its stake in shares of First Citizens BancShares by 225.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock valued at $70,979,000 after acquiring an additional 29,194 shares during the last quarter. Institutional investors own 61.18% of the company's stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded down $66.78 during mid-day trading on Monday, hitting $2,228.22. 101,069 shares of the stock traded hands, compared to its average volume of 87,713. The business's 50-day moving average price is $2,055.78 and its 200 day moving average price is $1,913.78. The company has a market cap of $31.17 billion, a PE ratio of 12.77 and a beta of 0.80. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. 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 analysts' consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the firm earned $55.92 EPS. On average, 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. Shareholders of record on Friday, November 29th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's payout ratio is currently 3.76%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded 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. JPMorgan Chase & Co. reduced their price target on shares of 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 raised their price target 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average target price of $2,093.40.

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.