First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Soros Fund Management LLC

Soros Fund Management LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 52.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,088 shares of the bank’s stock after buying an additional 1,755 shares during the period. Soros Fund Management LLC’s holdings in First Citizens BancShares were worth $9,367,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of 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. Cetera Advisors LLC acquired a new position in shares of First Citizens BancShares during the 1st quarter worth about $391,000. CWM LLC raised its position in shares of First Citizens BancShares by 33.5% during the 2nd quarter. CWM LLC now owns 275 shares of the bank’s stock worth $463,000 after acquiring an additional 69 shares in the last quarter. OLD National Bancorp IN grew its position in shares of First Citizens BancShares by 6.3% in the 2nd quarter. OLD National Bancorp IN now owns 288 shares of the bank’s stock valued at $485,000 after buying an additional 17 shares during the last quarter. Finally, Sendero Wealth Management LLC purchased a new stake in First Citizens BancShares in the second quarter valued at $7,088,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,195.63 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. 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 50-day simple moving average of $2,081.77 and a 200-day simple moving average of $1,924.02. The company has a market capitalization of $30.72 billion, a PE ratio of 12.58 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly 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). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $55.92 earnings per share. Equities research analysts predict that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed 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. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. This is a boost 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 dividend payout ratio is presently 4.47%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FCNCA. JPMorgan Chase & Co. decreased 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 report on Friday, October 25th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their target price 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. Keefe, Bruyette & Woods downgraded shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday. Finally, 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2,113.40.

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.