Private Trust Co. NA Buys 84 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Private Trust Co. NA increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2,100.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88 shares of the bank’s stock after purchasing an additional 84 shares during the quarter. Private Trust Co. NA’s holdings in First Citizens BancShares were worth $162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in shares of First Citizens BancShares during the first quarter valued at about $33,000. V Square Quantitative Management LLC bought a new position in First Citizens BancShares in the 2nd quarter valued at approximately $35,000. Gradient Investments LLC acquired a new stake in First Citizens BancShares during the 2nd quarter worth approximately $52,000. Blue Trust Inc. grew its holdings in First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after acquiring an additional 36 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Down 0.5 %

Shares of FCNCA stock opened at $2,295.00 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two 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 has a 50 day simple moving average of $2,049.18 and a two-hundred day simple moving average of $1,907.40. The company has a market cap of $32.11 billion, a P/E ratio of 13.23 and a beta of 0.80.

First Citizens BancShares (NASDAQ:FCNCA) last released its 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). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the previous year, the firm earned $55.92 EPS. Research analysts forecast 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. Stockholders of record on Friday, November 29th will be paid a $1.95 dividend. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.34%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.76%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several analyst reports. 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 lowered 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. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, 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 report on Friday, October 25th. Five research 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 presently has a consensus 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.