Cerity Partners LLC Buys 327 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cerity Partners LLC raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 34.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,290 shares of the bank’s stock after purchasing an additional 327 shares during the period. Cerity Partners LLC’s holdings in First Citizens BancShares were worth $2,375,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank increased 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 worth $58,943,000 after acquiring an additional 34,058 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in shares of 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 buying an additional 29,194 shares during the last quarter. International Assets Investment Management LLC increased its holdings in First Citizens BancShares by 183,992.3% during the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after buying an additional 23,919 shares during the last quarter. Thrivent Financial for Lutherans increased its stake 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 worth $40,274,000 after purchasing an additional 23,573 shares during the last quarter. Finally, Commerce Bank grew its stake in shares of First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after acquiring an additional 20,906 shares during the period. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,295.00 on Monday. 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 fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78. The company has a market capitalization of $32.11 billion, a P/E ratio of 13.15 and a beta of 0.80. The stock has a 50 day moving average price of $2,055.78 and a two-hundred day moving average price of $1,913.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during 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 business posted $55.92 EPS. Analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on FCNCA shares. The Goldman Sachs Group boosted their target price on shares of 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. Wedbush decreased 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 note on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased 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 report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.