Intech Investment Management LLC Trims Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Intech Investment Management LLC trimmed its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 619 shares of the bank’s stock after selling 33 shares during the period. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of First Citizens BancShares in the first quarter valued at about $33,000. V Square Quantitative Management LLC bought a new stake in shares of First Citizens BancShares in the 2nd quarter valued at about $35,000. Gradient Investments LLC purchased a new stake in shares of First Citizens BancShares in the 2nd quarter worth approximately $52,000. Blue Trust Inc. boosted 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 in the last quarter. Finally, GAMMA Investing LLC increased its holdings in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after buying an additional 35 shares during the period. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Down 0.8 %

Shares of First Citizens BancShares stock opened at $2,308.48 on Thursday. The firm’s 50 day simple moving average is $2,033.61 and its two-hundred day simple moving average is $1,901.75. The firm 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, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share 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 analysts’ expectations 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 period last year, the firm earned $55.92 earnings per share. Analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed 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. This represents a $7.80 annualized dividend and a dividend yield of 0.34%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.76%.

Analysts Set New Price Targets

FCNCA has been the subject of a number of analyst reports. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group increased their price target on shares of 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, Wedbush lowered their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,093.40.

First Citizens BancShares Company 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.