Dai ichi Life Insurance Company Ltd Acquires New Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Dai ichi Life Insurance Company Ltd purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 476 shares of the bank's stock, valued at approximately $876,000.

Other hedge funds also recently bought and sold shares of the company. Reinhart Partners LLC. lifted its position in shares of First Citizens BancShares by 0.7% during the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank's stock worth $104,562,000 after purchasing an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in First Citizens BancShares by 2.9% in 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 in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock worth $70,979,000 after buying an additional 29,194 shares during the last quarter. Sculptor Capital LP increased its holdings in shares of First Citizens BancShares by 16.8% in the 2nd quarter. Sculptor Capital LP now owns 37,998 shares of the bank's stock valued at $63,974,000 after acquiring an additional 5,467 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of First Citizens BancShares by 8.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 37,697 shares of the bank's stock valued at $63,467,000 after acquiring an additional 2,926 shares during the last quarter. Institutional investors and hedge funds own 61.18% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $11.53 during mid-day trading on Friday, reaching $2,295.00. The stock had a trading volume of 67,733 shares, compared to its average volume of 87,698. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The business has a 50 day simple moving average of $2,049.18 and a 200 day simple moving average of $1,907.40. The firm has a market capitalization of $32.11 billion, a price-to-earnings 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 (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter last year, the firm earned $55.92 earnings per share. On average, 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 declared 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 represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. First Citizens BancShares's dividend payout ratio (DPR) is presently 3.76%.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group lifted 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 research note on Tuesday. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Wedbush cut their target price on 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. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,093.40.

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.