Vinva Investment Management Ltd Purchases 13 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Vinva Investment Management Ltd lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 547 shares of the bank’s stock after acquiring an additional 13 shares during the period. Vinva Investment Management Ltd’s holdings in First Citizens BancShares were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FCNCA. Toronto Dominion Bank raised its position in shares of First Citizens BancShares by 3,577.5% in 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. FMR LLC boosted its holdings in 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 acquiring an additional 33,713 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC increased 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 in the last quarter. Finally, Thrivent Financial for Lutherans increased 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 in the last quarter. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Down 0.5 %

Shares of First Citizens BancShares stock opened at $2,295.00 on Friday. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 13.15 and a beta of 0.80. The business has a 50-day moving average price of $2,049.18 and a 200-day moving average price of $1,907.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data 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 analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the previous year, the business earned $55.92 EPS. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wedbush lowered their price objective 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. The Goldman Sachs Group upped their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares 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.