First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 337.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,125 shares of the bank's stock after purchasing an additional 20,149 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of First Citizens BancShares worth $48,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in First Citizens BancShares during the first quarter worth approximately $33,000. V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares in the second quarter valued at $35,000. Brooklyn Investment Group acquired a new position in First Citizens BancShares in the third quarter valued at $39,000. Gradient Investments LLC purchased a new position in First Citizens BancShares during the second quarter worth about $52,000. Finally, Blue Trust Inc. boosted its stake in First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank's stock worth $108,000 after buying an additional 36 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded down $11.52 during mid-day trading on Friday, reaching $2,295.00. The company's stock had a trading volume of 67,738 shares, compared to its average volume of 94,215. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 13.15 and a beta of 0.80. 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 moving average price of $2,055.78 and a 200-day moving average price of $1,912.44. 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 (NASDAQ:FCNCA - Get Free Report) last issued its 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). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates 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 firm earned $55.92 earnings per share. Sell-side analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal 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. The ex-dividend date 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 dividend yield of 0.34%. First Citizens BancShares's payout ratio is currently 3.76%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on 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. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Wedbush dropped 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. Finally, JPMorgan Chase & Co. reduced their target price 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. 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.com, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average 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.