First Citizens BancShares, Inc. (NASDAQ:FCNCA) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72 shares of the bank’s stock after buying an additional 10 shares during the period. GAMMA Investing LLC’s holdings in First Citizens BancShares were worth $152,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after buying an additional 33,713 shares during the period. JPMorgan Chase & Co. lifted its position in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after acquiring an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares during the period. Reinhart Partners LLC. grew its position in First Citizens BancShares by 0.7% during the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after purchasing an additional 416 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in First Citizens BancShares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after purchasing an additional 1,339 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,094.00 on Friday. The business’s 50-day simple moving average is $2,155.93 and its 200-day simple moving average is $1,996.00. 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 debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $29.29 billion, a price-to-earnings ratio of 12.00 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last announced its 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business earned $55.92 EPS. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is an increase 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 0.37%. First Citizens BancShares’s dividend payout ratio is 4.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on 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 cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Barclays upped their price objective on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2,290.75.

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.