Zurcher Kantonalbank Zurich Cantonalbank Has $3.98 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,162 shares of the bank’s stock after acquiring an additional 123 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Citizens BancShares were worth $3,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates grew its position in First Citizens BancShares by 5.1% in the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after acquiring an additional 811 shares during the last quarter. Balentine LLC bought a new position in First Citizens BancShares in the 3rd quarter valued at approximately $3,564,000. Cetera Investment Advisers lifted its stake in First Citizens BancShares by 301.3% in the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock valued at $2,034,000 after purchasing an additional 934 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in First Citizens BancShares by 22.6% in the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after buying an additional 537 shares in the last quarter. Finally, Hiddenite Capital Partners LP grew its stake in shares of First Citizens BancShares by 14.1% during the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after buying an additional 400 shares during the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,223.21 on Tuesday. The stock has a market capitalization of $31.10 billion, a price-to-earnings ratio of 12.74 and a beta of 0.80. 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 stock’s 50 day moving average price is $2,061.12 and its two-hundred day moving average price is $1,917.06.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results 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 period in the prior year, the company earned $55.92 earnings per share. On average, equities analysts predict that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.35%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s payout ratio is presently 3.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush cut their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised 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 report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.