Edgestream Partners L.P. Grows Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Edgestream Partners L.P. lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 285.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,275 shares of the bank's stock after purchasing an additional 944 shares during the quarter. Edgestream Partners L.P.'s holdings in First Citizens BancShares were worth $2,347,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its stake in First Citizens BancShares by 337.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock valued at $48,095,000 after purchasing an additional 20,149 shares during the last quarter. Martingale Asset Management L P purchased a new stake in First Citizens BancShares in the third quarter valued at approximately $258,000. Vinva Investment Management Ltd increased its holdings in First Citizens BancShares by 2.4% in the 3rd quarter. Vinva Investment Management Ltd now owns 547 shares of the bank's stock worth $1,010,000 after buying an additional 13 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Citizens BancShares by 15.0% during the 3rd 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 buying an additional 7,613 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Citizens BancShares by 6.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,162 shares of the bank's stock valued at $3,980,000 after acquiring an additional 123 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.6 %

NASDAQ:FCNCA traded down $13.32 during midday trading on Tuesday, reaching $2,209.89. The company had a trading volume of 108,009 shares, compared to its average volume of 87,918. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 12.66 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock's fifty day simple moving average is $2,068.18 and its 200-day simple moving average is $1,920.18.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business earned $55.92 EPS. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $1.95 per share. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares's payout ratio is presently 4.47%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FCNCA shares. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price target 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 objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Wedbush reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and an average price target of $2,093.40.

About First Citizens BancShares

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.