Cerity Partners LLC Boosts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cerity Partners LLC lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 34.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,290 shares of the bank's stock after acquiring an additional 327 shares during the period. Cerity Partners LLC's holdings in First Citizens BancShares were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of First Citizens BancShares by 3,577.5% in the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank's stock valued at $58,943,000 after purchasing an additional 34,058 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock worth $70,979,000 after acquiring an additional 29,194 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of First Citizens BancShares by 183,992.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank's stock worth $440,580,000 after acquiring an additional 23,919 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of First Citizens BancShares by 6,773.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank's stock valued at $40,274,000 after acquiring an additional 23,573 shares during the last quarter. Finally, Commerce Bank grew its holdings in shares of First Citizens BancShares by 4,762.2% in the third quarter. Commerce Bank now owns 21,345 shares of the bank's stock valued at $39,295,000 after purchasing an additional 20,906 shares during the period. 61.18% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 3.1 %

Shares of FCNCA stock traded down $71.79 during trading on Monday, reaching $2,223.21. The company's stock had a trading volume of 117,768 shares, compared to its average volume of 87,832. The company has a market capitalization of $31.10 billion, a price-to-earnings ratio of 12.74 and a beta of 0.80. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year 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. The stock's 50-day moving average price is $2,061.12 and its 200 day moving average price is $1,917.06.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the previous year, the business posted $55.92 EPS. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, November 29th. First Citizens BancShares's dividend payout ratio is currently 3.76%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FCNCA shares. 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 report on Friday, October 25th. The Goldman Sachs Group increased their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.