First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Seldon Capital LP

Seldon Capital LP grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794 shares of the bank's stock after purchasing an additional 360 shares during the quarter. First Citizens BancShares makes up about 1.9% of Seldon Capital LP's portfolio, making the stock its 18th biggest holding. Seldon Capital LP's holdings in First Citizens BancShares were worth $3,303,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Reinhart Partners LLC. lifted its holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock valued at $86,812,000 after acquiring an additional 1,339 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in 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 in the last quarter. Sculptor Capital LP boosted its holdings in shares of First Citizens BancShares by 16.8% during the 2nd quarter. Sculptor Capital LP now owns 37,998 shares of the bank's stock worth $63,974,000 after purchasing an additional 5,467 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of First Citizens BancShares by 8.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 37,697 shares of the bank's stock valued at $63,467,000 after purchasing an additional 2,926 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on FCNCA. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective 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 report on Friday, October 25th. Barclays lifted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Finally, Wedbush dropped their price target on shares of 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,025.90.

First Citizens BancShares Trading Up 1.2 %

Shares of FCNCA stock traded up $28.85 during trading hours on Friday, hitting $2,353.08. The company had a trading volume of 93,166 shares, compared to its average volume of 99,237. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,363.90. 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 is $2,016.00 and its 200 day moving average is $1,890.94. The stock has a market capitalization of $32.92 billion, a PE ratio of 13.48 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the business earned $55.92 earnings per share. Research analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, November 29th. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.33%. First Citizens BancShares's dividend payout ratio is 3.76%.

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.