Landscape Capital Management L.L.C. Purchases New Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Landscape Capital Management L.L.C. purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 141 shares of the bank’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FCNCA. Price T Rowe Associates Inc. MD increased its stake in shares of First Citizens BancShares by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,769 shares of the bank’s stock valued at $14,339,000 after buying an additional 365 shares during the period. Janus Henderson Group PLC increased its stake in shares of First Citizens BancShares by 1.2% in the 1st quarter. Janus Henderson Group PLC now owns 903 shares of the bank’s stock valued at $1,475,000 after buying an additional 11 shares during the period. Tidal Investments LLC increased its stake in shares of First Citizens BancShares by 11.7% in the 1st quarter. Tidal Investments LLC now owns 592 shares of the bank’s stock valued at $968,000 after buying an additional 62 shares during the period. SkyView Investment Advisors LLC acquired a new stake in shares of First Citizens BancShares in the 1st quarter valued at $1,048,000. Finally, Comerica Bank increased its stake in shares of First Citizens BancShares by 62.6% in the 1st quarter. Comerica Bank now owns 3,829 shares of the bank’s stock valued at $6,260,000 after buying an additional 1,474 shares during the period. 61.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCNCA has been the subject of several research reports. 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 note 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 report on Thursday, November 14th. Finally, Barclays raised their price target on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,025.90.

First Citizens BancShares Stock Performance

FCNCA stock opened at $2,341.02 on Tuesday. The business’s 50-day moving average price is $2,016.00 and its two-hundred day moving average price is $1,893.32. 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 firm has a market cap of $32.75 billion, a PE ratio of 13.41 and a beta of 0.80. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter in the prior year, the firm posted $55.92 earnings per share. As a group, 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 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 dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.33%. First Citizens BancShares’s payout ratio is currently 3.76%.

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.