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

Summit Trail Advisors LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of First Citizens BancShares in the first quarter worth about $33,000. V Square Quantitative Management LLC purchased a new position in First Citizens BancShares in the 2nd quarter worth approximately $35,000. Gradient Investments LLC acquired a new stake in First Citizens BancShares in the second quarter valued at approximately $52,000. Blue Trust Inc. raised its stake in shares of First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after purchasing an additional 36 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent analyst reports. Wedbush lowered their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,325.96 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 13.33 and a beta of 0.80. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The business has a 50 day simple moving average of $2,025.40 and a 200-day simple moving average of $1,897.60.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $55.92 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.34%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

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.