Quantinno Capital Management LP Grows Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Quantinno Capital Management LP grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 69.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317 shares of the bank’s stock after acquiring an additional 130 shares during the period. Quantinno Capital Management LP’s holdings in First Citizens BancShares were worth $584,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wedbush Securities Inc. increased its holdings in shares of First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock worth $2,019,000 after purchasing an additional 6 shares during the period. Metis Global Partners LLC increased its stake in First Citizens BancShares by 4.9% in the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of First Citizens BancShares by 3.9% in the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock valued at $315,000 after acquiring an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV boosted its position in shares of First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after acquiring an additional 8 shares during the last quarter. Finally, Mount Lucas Management LP grew its holdings in shares of First Citizens BancShares by 2.6% during the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

FCNCA opened at $2,086.91 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The stock’s 50 day simple moving average is $2,113.46 and its 200 day simple moving average is $1,939.71. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 11.96 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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). The firm 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 period in the previous year, the firm earned $55.92 earnings per share. As a group, analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is 4.47%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. The Goldman Sachs Group lifted 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 note on Tuesday, November 26th. Finally, Wedbush reduced 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. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $2,157.64.

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.