First Citizens BancShares, Inc. (NASDAQ:FCNCA) is Systematic Financial Management LP's 4th Largest Position

Systematic Financial Management LP lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,022 shares of the bank's stock after selling 22,224 shares during the period. First Citizens BancShares makes up 1.7% of Systematic Financial Management LP's investment portfolio, making the stock its 4th largest holding. Systematic Financial Management LP owned about 0.26% of First Citizens BancShares worth $68,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers increased its holdings in First Citizens BancShares by 301.3% in the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank's stock worth $2,034,000 after buying an additional 934 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of First Citizens BancShares in the 1st quarter worth approximately $391,000. CWM LLC increased its position in First Citizens BancShares by 33.5% during the second quarter. CWM LLC now owns 275 shares of the bank's stock valued at $463,000 after acquiring an additional 69 shares during the last quarter. OLD National Bancorp IN lifted its holdings in shares of First Citizens BancShares by 6.3% in the 2nd quarter. OLD National Bancorp IN now owns 288 shares of the bank's stock worth $485,000 after acquiring an additional 17 shares during the last quarter. Finally, Sendero Wealth Management LLC purchased a new position in shares of First Citizens BancShares during the 2nd quarter worth about $7,088,000. Hedge funds and other institutional investors own 61.18% of the company's stock.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded up $6.21 on Thursday, reaching $2,204.13. The company's stock had a trading volume of 39,507 shares, compared to its average volume of 87,653. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. The company has a market capitalization of $30.84 billion, a P/E ratio of 12.59 and a beta of 0.83. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average price of $2,075.39 and a 200-day moving average price of $1,922.12.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm posted $55.92 earnings per share. Analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's dividend payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research reports. 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 upgraded 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 raised their price target for the company from $2,100.00 to $2,500.00 in a research note on Wednesday. JPMorgan Chase & Co. cut 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. Finally, Wedbush dropped 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 research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $2,113.40.

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.