Reinhart Partners LLC. Increases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Reinhart Partners LLC. increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,981 shares of the bank's stock after purchasing an additional 1,183 shares during the quarter. First Citizens BancShares makes up 4.7% of Reinhart Partners LLC.'s portfolio, making the stock its largest holding. Reinhart Partners LLC. owned approximately 0.41% of First Citizens BancShares worth $122,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its stake in First Citizens BancShares by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 427 shares of the bank's stock valued at $720,000 after buying an additional 72 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank's stock worth $124,000 after purchasing an additional 11 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter worth about $475,000. Choreo LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter worth about $373,000. Finally, American Century Companies Inc. lifted its holdings in First Citizens BancShares by 40.1% during the 2nd quarter. American Century Companies Inc. now owns 6,404 shares of the bank's stock valued at $10,782,000 after purchasing an additional 1,832 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $21.81 during midday trading on Monday, reaching $2,085.61. 67,901 shares of the stock were exchanged, compared to its average volume of 66,300. The stock's 50 day simple moving average is $2,161.81 and its 200 day simple moving average is $2,004.66. The company has a market cap of $29.18 billion, a P/E ratio of 11.95 and a beta of 0.86. 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 quick ratio of 1.08, a current 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 company earned $55.92 EPS. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares's dividend payout ratio is currently 4.47%.

Analysts Set New Price Targets

Several research firms recently weighed in on FCNCA. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. Barclays raised their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, Wedbush cut their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2,290.75.

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.