Oliver Luxxe Assets LLC Grows Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Oliver Luxxe Assets LLC lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,111 shares of the bank’s stock after purchasing an additional 195 shares during the period. First Citizens BancShares comprises approximately 1.1% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 20th biggest holding. Oliver Luxxe Assets LLC’s holdings in First Citizens BancShares were worth $6,574,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in First Citizens BancShares during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC raised its holdings in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares in the last quarter. National Bank of Canada FI lifted its stake in First Citizens BancShares by 17.7% in the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after acquiring an additional 11 shares during the period. Quarry LP bought a new stake in First Citizens BancShares in the second quarter valued at $126,000. Finally, Private Trust Co. NA increased its position in First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research reports. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Barclays upped their target price on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on 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. Finally, Wedbush decreased their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2,262.36.

First Citizens BancShares Stock Down 0.5 %

FCNCA stock traded down $11.70 during trading on Monday, hitting $2,138.92. 67,153 shares of the stock traded hands, compared to its average volume of 52,883. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 12.25 and a beta of 0.86. 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 firm’s 50 day moving average is $2,145.56 and its two-hundred day moving average is $1,986.05.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results 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). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business earned $55.92 EPS. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

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.