First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Estate Counselors LLC

Estate Counselors LLC grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 985 shares of the bank’s stock after buying an additional 25 shares during the period. Estate Counselors LLC’s holdings in First Citizens BancShares were worth $1,813,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Wedbush Securities Inc. raised its stake in shares of First Citizens BancShares by 0.5% during 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 last quarter. Metis Global Partners LLC increased its holdings in shares of First Citizens BancShares by 4.9% in the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after purchasing an additional 6 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of First Citizens BancShares by 3.9% in the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock valued at $315,000 after purchasing an additional 7 shares during the period. Tandem Capital Management Corp ADV increased its holdings in First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after buying an additional 8 shares in the last quarter. Finally, Mount Lucas Management LP increased its stake in First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Stock Up 1.2 %

Shares of NASDAQ FCNCA opened at $2,353.08 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 1 year low of $1,363.97 and a 1 year high of $2,363.90. The stock’s 50-day simple moving average is $2,016.00 and its 200-day simple moving average is $1,890.94. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of 13.48 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last released 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 business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $55.92 earnings per share. As a group, equities analysts anticipate 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. Investors of record on Friday, November 29th will be given a $1.95 dividend. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.33%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.76%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wedbush reduced their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Barclays increased their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note 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 on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,025.90.

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.