First Citizens BancShares, Inc. (NASDAQ:FCNCA) Holdings Boosted by TD Private Client Wealth LLC

TD Private Client Wealth LLC boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,007 shares of the bank’s stock after purchasing an additional 10 shares during the period. TD Private Client Wealth LLC’s holdings in First Citizens BancShares were worth $1,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $35,000. Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the 3rd quarter valued at $39,000. Gradient Investments LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $52,000. GAMMA Investing LLC boosted its stake in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after buying an additional 35 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after buying an additional 36 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FCNCA shares. Citigroup raised shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wedbush decreased 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. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.64.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,074.88 on Friday. The firm’s 50-day moving average is $2,110.72 and its 200-day moving average is $1,936.47. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78. 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 $29.03 billion, a price-to-earnings ratio of 11.89 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm posted $55.92 EPS. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is presently 4.47%.

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.