Landscape Capital Management L.L.C. Invests $260,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Landscape Capital Management L.L.C. purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 141 shares of the bank’s stock, valued at approximately $260,000.

Several other large investors also recently made changes to their positions in FCNCA. Toronto Dominion Bank boosted its stake in shares of First Citizens BancShares by 3,577.5% during the 2nd quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock worth $58,943,000 after acquiring an additional 34,058 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after purchasing an additional 29,194 shares during the period. International Assets Investment Management LLC boosted its stake in First Citizens BancShares by 183,992.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after purchasing an additional 23,919 shares during the period. Thrivent Financial for Lutherans boosted its stake in First Citizens BancShares by 6,773.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares during the period. Finally, Commerce Bank boosted its stake in First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after purchasing an additional 20,906 shares during the period. Institutional investors own 61.18% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price 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. Wedbush decreased their target price 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. Finally, Barclays raised their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average price target of $2,025.90.

First Citizens BancShares Trading Down 0.5 %

Shares of FCNCA opened at $2,341.02 on Tuesday. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $2,016.00 and a 200-day simple moving average of $1,893.32. The stock has a market cap of $32.75 billion, a PE ratio of 13.41 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) 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 return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $55.92 earnings per share. On average, sell-side analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.33%. First Citizens BancShares’s dividend payout ratio is presently 3.76%.

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.