Charles Schwab Investment Management Inc. Boosts Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Charles Schwab Investment Management Inc. grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,156 shares of the bank’s stock after buying an additional 1,339 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in First Citizens BancShares were worth $86,812,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its holdings in shares of First Citizens BancShares by 3,577.5% during the 2nd quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after buying an additional 34,058 shares during the period. Zurich Insurance Group Ltd FI lifted its position in shares of First Citizens BancShares by 225.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of First Citizens BancShares by 183,992.3% in the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after purchasing an additional 23,919 shares during the period. Thrivent Financial for Lutherans grew its holdings in First Citizens BancShares by 6,773.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares in the last quarter. Finally, Commerce Bank increased its stake in First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after buying an additional 20,906 shares during the period. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Stock Down 0.8 %

Shares of NASDAQ:FCNCA opened at $2,308.48 on Thursday. The company’s fifty day moving average is $2,033.61 and its two-hundred day moving average is $1,901.75. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The stock has a market capitalization of $32.30 billion, a price-to-earnings ratio of 13.23 and a beta of 0.80.

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 analysts’ consensus estimates of $47.40 by ($1.53). The business had revenue of $2.45 billion during 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 period in the prior year, the business earned $55.92 EPS. Equities analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business 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 dividend of $1.95 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 3.76%.

Analyst Ratings Changes

A number of research firms have weighed in on FCNCA. JPMorgan Chase & Co. decreased their price objective on shares of 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. Wedbush lowered their price objective 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. The Goldman Sachs Group upped their target price 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, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, First Citizens BancShares 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.