First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 18.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,493 shares of the bank's stock after selling 10,019 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.30% of First Citizens BancShares worth $80,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. HighVista Strategies LLC acquired a new position in First Citizens BancShares during the 3rd quarter valued at approximately $920,000. Centiva Capital LP increased its stake in shares of First Citizens BancShares by 8.8% in the third quarter. Centiva Capital LP now owns 517 shares of the bank's stock worth $952,000 after acquiring an additional 42 shares during the period. Benjamin Edwards Inc. increased its stake in shares of First Citizens BancShares by 49.0% in the third quarter. Benjamin Edwards Inc. now owns 362 shares of the bank's stock worth $667,000 after acquiring an additional 119 shares during the period. Edgestream Partners L.P. increased its stake in shares of First Citizens BancShares by 285.2% in the third quarter. Edgestream Partners L.P. now owns 1,275 shares of the bank's stock worth $2,347,000 after acquiring an additional 944 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock worth $48,095,000 after acquiring an additional 20,149 shares during the period. Institutional investors and hedge funds own 61.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FCNCA shares. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Wedbush lowered their price target 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 target 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. Finally, 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. Five 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 stock has a consensus rating of "Moderate Buy" and an average price target of $2,093.40.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded down $13.32 during mid-day trading on Tuesday, reaching $2,209.89. The company's stock had a trading volume of 108,009 shares, compared to its average volume of 87,918. The stock has a 50-day moving average of $2,061.12 and a two-hundred day moving average of $1,917.06. The stock has a market capitalization of $30.92 billion, a P/E ratio of 12.66 and a beta of 0.83. 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, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released 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). 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 for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $55.92 earnings per share. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's payout ratio is currently 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.