First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Holdings Lifted by Fmr LLC

FMR LLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 11.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 323,532 shares of the bank's stock after purchasing an additional 33,713 shares during the quarter. FMR LLC owned about 2.24% of First Citizens BancShares worth $595,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedbush Securities Inc. grew its position in shares of First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank's stock valued at $2,019,000 after purchasing an additional 6 shares during the period. Metis Global Partners LLC grew its holdings in First Citizens BancShares by 4.9% in the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock valued at $237,000 after buying an additional 6 shares during the period. HB Wealth Management LLC increased its stake in shares of First Citizens BancShares by 3.9% during the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank's stock valued at $315,000 after acquiring an additional 7 shares during the last quarter. Tandem Capital Management Corp ADV increased its stake in shares of First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank's stock valued at $845,000 after acquiring an additional 8 shares during the last quarter. Finally, Mount Lucas Management LP lifted its holdings in shares of First Citizens BancShares by 2.6% during the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank's stock worth $580,000 after acquiring an additional 8 shares during the period. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wedbush lowered 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 research report on Friday, October 25th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced 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 research report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,093.40.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded down $13.48 during mid-day trading on Friday, reaching $2,295.00. 67,737 shares of the stock were exchanged, compared to its average volume of 87,698. 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 business has a fifty day moving average price of $2,049.18 and a 200 day moving average price of $1,907.40. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The firm has a market capitalization of $32.11 billion, a PE ratio of 13.23 and a beta of 0.80.

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 for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period in the prior year, the business earned $55.92 earnings per share. Research 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio is presently 3.76%.

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.