435 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Retireful LLC

Retireful LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 435 shares of the bank’s stock, valued at approximately $801,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors acquired a new stake in First Citizens BancShares during the 1st quarter worth $298,180,000. Toronto Dominion Bank raised 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 purchasing an additional 34,058 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in shares of First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC lifted 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 valued at $440,580,000 after purchasing an additional 23,919 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of First Citizens BancShares by 6,773.9% in 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 during the period. 61.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wedbush reduced their target price on shares of 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. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays lifted their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,025.90.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $2,217.73 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company’s fifty day simple moving average is $1,986.99 and its 200 day simple moving average is $1,880.94. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,275.90. The company has a market cap of $31.03 billion, a price-to-earnings ratio of 12.71 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last announced 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 firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate 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 period last year, the business earned $55.92 EPS. On average, research analysts forecast that First Citizens BancShares, Inc. will post 189.06 earnings per share for the current fiscal year.

First Citizens BancShares announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the bank to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 3.76%.

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.