Westfield Capital Management Co. LP Has $9.23 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Westfield Capital Management Co. LP trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 84.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,016 shares of the bank's stock after selling 27,598 shares during the quarter. Westfield Capital Management Co. LP's holdings in First Citizens BancShares were worth $9,234,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FCNCA. UniSuper Management Pty Ltd boosted its position in First Citizens BancShares by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 200 shares of the bank's stock worth $327,000 after purchasing an additional 100 shares during the period. Gabelli Funds LLC grew its stake in First Citizens BancShares by 6.4% in the 1st quarter. Gabelli Funds LLC now owns 1,673 shares of the bank's stock valued at $2,735,000 after buying an additional 100 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in First Citizens BancShares by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank's stock valued at $14,339,000 after acquiring an additional 365 shares during the period. Janus Henderson Group PLC lifted its position in First Citizens BancShares by 1.2% during the first quarter. Janus Henderson Group PLC now owns 903 shares of the bank's stock worth $1,475,000 after acquiring an additional 11 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of First Citizens BancShares by 11.7% during the first quarter. Tidal Investments LLC now owns 592 shares of the bank's stock worth $968,000 after acquiring an additional 62 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 0.5 %

Shares of First Citizens BancShares stock traded down $12.06 during midday trading on Monday, reaching $2,341.02. The company had a trading volume of 178,087 shares, compared to its average volume of 87,968. The firm has a market cap of $32.75 billion, a PE ratio of 13.41 and a beta of 0.80. The stock has a fifty day moving average price of $2,016.00 and a 200 day moving average price of $1,893.32. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate 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 business earned $55.92 EPS. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.33%. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. First Citizens BancShares's payout ratio is currently 3.76%.

Wall Street Analyst Weigh In

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

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.