Quadrature Capital Ltd Takes $2.61 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Quadrature Capital Ltd acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,418 shares of the bank's stock, valued at approximately $2,606,000.

A number of other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of First Citizens BancShares in the 2nd quarter worth approximately $35,000. Brooklyn Investment Group purchased a new stake in First Citizens BancShares during the 3rd quarter valued at $39,000. Gradient Investments LLC purchased a new stake in shares of First Citizens BancShares in the 2nd quarter worth $52,000. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 36 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% in 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. Hedge funds and other institutional investors own 61.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCNCA. Wedbush dropped their target price on shares of 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. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research 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. 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 research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Hold" and an average target price of $2,113.40.

First Citizens BancShares Stock Up 0.0 %

FCNCA traded up $0.97 during trading on Friday, hitting $2,196.60. The company had a trading volume of 53,977 shares, compared to its average volume of 88,978. The company has a market cap of $30.73 billion, a PE ratio of 12.58 and a beta of 0.83. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The business has a 50-day moving average of $2,088.79 and a 200-day moving average of $1,927.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company earned $55.92 EPS. As a group, analysts forecast that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio (DPR) is 4.47%.

First Citizens BancShares 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.