Edgestream Partners L.P. Acquires 944 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Edgestream Partners L.P. increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 285.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,275 shares of the bank’s stock after acquiring an additional 944 shares during the quarter. Edgestream Partners L.P.’s holdings in First Citizens BancShares were worth $2,347,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Toronto Dominion Bank lifted its position in shares of First Citizens BancShares by 3,577.5% in the 2nd 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 during the period. FMR LLC raised its stake in shares of First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its position in First Citizens BancShares by 225.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after purchasing an additional 29,194 shares during the period. International Assets Investment Management LLC boosted its stake 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 in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in 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 buying an additional 23,573 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 3.1 %

Shares of FCNCA opened at $2,223.21 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $31.10 billion, a price-to-earnings ratio of 12.74 and a beta of 0.80. The stock has a fifty day moving average price of $2,061.12 and a two-hundred day moving average price of $1,917.06. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm earned $55.92 earnings per share. Analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business 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. This represents a $7.80 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 3.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCNCA. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on 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. JPMorgan Chase & Co. lowered their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Wedbush cut their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,093.40.

About First Citizens BancShares

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.