2,933 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,933 shares of the bank’s stock, valued at approximately $5,400,000.

A number of other large investors also recently added to or reduced their stakes in FCNCA. Toronto Dominion Bank grew its position in shares of First Citizens BancShares by 3,577.5% during the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after purchasing an additional 34,058 shares in the last quarter. FMR LLC grew its holdings in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after buying an additional 33,713 shares in the last quarter. Zurich Insurance Group Ltd FI increased 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 acquiring an additional 29,194 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 worth $440,580,000 after acquiring an additional 23,919 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of 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 acquiring an additional 23,573 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $2,074.88 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $29.03 billion, a price-to-earnings ratio of 11.89 and a beta of 0.83. The firm has a 50 day moving average of $2,110.72 and a 200 day moving average of $1,936.47. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week 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 company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $55.92 earnings per share. On average, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target 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 report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday. They set a “buy” rating and a $2,600.00 price objective on the stock. Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price target 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. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and a consensus price target of $2,157.64.

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.