First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,870 shares of the bank's stock after acquiring an additional 328 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of First Citizens BancShares worth $16,329,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in First Citizens BancShares during the 2nd quarter valued at about $35,000. Brooklyn Investment Group purchased 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 worth approximately $52,000. Blue Trust Inc. lifted its holdings in First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank's stock worth $108,000 after buying an additional 36 shares during the period. Finally, GAMMA Investing LLC boosted its position in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company's stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded up $0.97 on Friday, hitting $2,196.60. The company had a trading volume of 53,977 shares, compared to its average volume of 88,978. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company's fifty day moving average price is $2,088.79 and its 200-day moving average price is $1,929.12. The company has a market capitalization of $30.73 billion, a PE ratio of 12.58 and a beta of 0.83.

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 firm had revenue of $2.45 billion during 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 firm earned $55.92 earnings per share. As a group, analysts predict 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. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, November 29th. This is a boost from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.47%.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods lowered First Citizens BancShares from an "outperform" rating to a "market perform" rating and upped their target price for the company from $2,100.00 to $2,500.00 in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Finally, Wedbush cut their price objective on 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2,113.40.

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.