Barclays PLC Purchases 1,158 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Barclays PLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,195 shares of the bank's stock after acquiring an additional 1,158 shares during the quarter. Barclays PLC owned 0.05% of First Citizens BancShares worth $13,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $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 lifted its stake in First Citizens BancShares by 15.0% in 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 worth $107,749,000 after purchasing an additional 7,613 shares during the last quarter. Reinhart Partners LLC. boosted its position in 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 buying an additional 416 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 1,339 shares during the period. Finally, Zurich Insurance Group Ltd FI grew 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 buying an additional 29,194 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FCNCA shares. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and increased their price target for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. 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, November 26th. Wedbush reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective for the company. Finally, StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Six research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,157.64.

First Citizens BancShares Stock Performance

FCNCA stock traded up $36.53 on Monday, hitting $2,123.44. The company had a trading volume of 89,489 shares, compared to its average volume of 87,587. 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 stock has a market cap of $29.70 billion, a price-to-earnings ratio of 12.17 and a beta of 0.83. The stock's 50-day simple moving average is $2,117.01 and its 200 day simple moving average is $1,943.90.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its 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). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the business posted $55.92 earnings per share. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced 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 an increase from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.37%. First Citizens BancShares's payout ratio is 4.47%.

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.