First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 202 shares of the bank’s stock after purchasing an additional 17 shares during the quarter. Summit Trail Advisors LLC’s holdings in First Citizens BancShares were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank grew its stake in shares of First Citizens BancShares by 3,577.5% in 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 in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings 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 lifted its holdings in First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after purchasing an additional 23,919 shares during the period. Thrivent Financial for Lutherans grew its position 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 in the last quarter. Finally, Commerce Bank increased its stake in First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after buying an additional 20,906 shares during the period. 61.18% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,325.96 on Wednesday. The company has a 50-day moving average of $2,025.40 and a two-hundred day moving average of $1,897.60. The stock has a market cap of $32.54 billion, a price-to-earnings ratio of 13.33 and a beta of 0.80. 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 one year low of $1,363.97 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business posted $55.92 EPS. On average, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.34%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s payout ratio is presently 4.47%.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush lowered their target price on 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. Finally, JPMorgan Chase & Co. cut their price target 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,093.40.

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.