Intech Investment Management LLC Sells 33 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Intech Investment Management LLC lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 619 shares of the bank’s stock after selling 33 shares during the period. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $1,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCNCA. Retireful LLC bought a new position in shares of First Citizens BancShares in the 3rd quarter worth approximately $801,000. Commerce Bank increased its holdings in First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after buying an additional 20,906 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in First Citizens BancShares in the third quarter worth approximately $414,000. Meeder Asset Management Inc. boosted its stake in shares of First Citizens BancShares by 4,666.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 143 shares of the bank’s stock worth $263,000 after acquiring an additional 140 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in shares of First Citizens BancShares by 3.2% during the 3rd quarter. Mawer Investment Management Ltd. now owns 9,773 shares of the bank’s stock valued at $17,992,000 after acquiring an additional 306 shares during the period. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,308.48 on Thursday. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of 13.23 and a beta of 0.80. 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 business has a 50 day simple moving average of $2,033.61 and a 200-day simple moving average of $1,901.75. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly 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 the consensus estimate of $2.36 billion. During the same quarter in the prior year, the business earned $55.92 earnings per share. Equities analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.34%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 3.76%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCNCA. Wedbush lowered their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report 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. JPMorgan Chase & Co. decreased 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 note on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,093.40.

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.