HighVista Strategies LLC Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

HighVista Strategies LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 500 shares of the bank's stock, valued at approximately $920,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of First Citizens BancShares during the 2nd quarter worth about $35,000. Brooklyn Investment Group acquired a new position in First Citizens BancShares during the third quarter valued at approximately $39,000. Gradient Investments LLC bought a new position in First Citizens BancShares in the second quarter valued at approximately $52,000. Blue Trust Inc. increased its position in shares of First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank's stock worth $108,000 after purchasing an additional 36 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock worth $114,000 after purchasing an additional 35 shares in the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FCNCA shares. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. cut their target price on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Wedbush lowered their price target 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. Finally, The Goldman Sachs Group raised their price objective 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, November 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,093.40.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded down $13.32 on Tuesday, reaching $2,209.89. 107,642 shares of the company's stock were exchanged, compared to its average volume of 87,916. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The company has a fifty day moving average of $2,061.12 and a 200-day moving average of $1,917.06. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 12.74 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly 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 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 quarter in the previous year, the business posted $55.92 EPS. On average, research 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. Investors of record on Friday, November 29th will be given a dividend of $1.95 per share. 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 0.35%. The ex-dividend date is Friday, November 29th. First Citizens BancShares's dividend payout ratio is currently 4.47%.

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.