Sanctuary Advisors LLC Has $4.24 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sanctuary Advisors LLC decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 41.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,303 shares of the bank's stock after selling 1,649 shares during the quarter. Sanctuary Advisors LLC's holdings in First Citizens BancShares were worth $4,240,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after buying an additional 33,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock valued at $107,749,000 after acquiring an additional 7,613 shares during the period. Reinhart Partners LLC. grew its holdings in shares of First Citizens BancShares by 0.7% during the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank's stock valued at $104,562,000 after purchasing an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of First Citizens BancShares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock worth $86,812,000 after purchasing an additional 1,339 shares during the period. Finally, Zurich Insurance Group Ltd FI lifted its holdings in shares of First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank's stock worth $70,979,000 after purchasing an additional 29,194 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FCNCA. Wedbush lowered their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price target for the company. UBS Group started coverage on shares of First Citizens BancShares in a report on Tuesday. They issued a "buy" rating and a $2,700.00 price objective on the stock. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Finally, Citigroup upgraded shares of First Citizens BancShares from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,243.64.

First Citizens BancShares Stock Down 0.7 %

Shares of FCNCA stock traded down $15.50 during trading on Tuesday, hitting $2,107.94. 141,206 shares of the company were exchanged, compared to its average volume of 87,759. The business's 50-day simple moving average is $2,117.01 and its 200 day simple moving average is $1,943.90. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 12.08 and a beta of 0.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business earned $55.92 EPS. As a group, analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.95 dividend. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, November 29th. First Citizens BancShares's dividend payout ratio is presently 4.47%.

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.