Coldstream Capital Management Inc. Has $500,000 Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Coldstream Capital Management Inc. lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.8% during the third quarter, Holdings Channel.com reports. The firm owned 268 shares of the bank’s stock after buying an additional 24 shares during the period. Coldstream Capital Management Inc.’s holdings in First Citizens BancShares were worth $500,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swedbank AB lifted its stake in shares of First Citizens BancShares by 2.2% during the second quarter. Swedbank AB now owns 2,403 shares of the bank’s stock valued at $4,046,000 after acquiring an additional 52 shares during the period. Blue Trust Inc. lifted its position in First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after purchasing an additional 36 shares during the period. Gradient Investments LLC bought a new position in shares of First Citizens BancShares in the 2nd quarter valued at about $52,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of First Citizens BancShares by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,380 shares of the bank’s stock worth $42,730,000 after buying an additional 1,628 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of First Citizens BancShares during the second quarter worth approximately $278,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup raised shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Wedbush decreased 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 research note 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 report on Tuesday, November 26th. Keefe, Bruyette & Woods cut First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.64.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,086.91 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The company’s 50 day moving average price is $2,113.46 and its two-hundred day moving average price is $1,939.71. The company has a market capitalization of $29.20 billion, a P/E ratio of 11.96 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $55.92 earnings per share. On average, analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share 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 boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

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.