Quantinno Capital Management LP Buys 130 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Quantinno Capital Management LP grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 69.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317 shares of the bank’s stock after purchasing an additional 130 shares during the period. Quantinno Capital Management LP’s holdings in First Citizens BancShares were worth $584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wedbush Securities Inc. lifted its holdings in First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock worth $2,019,000 after buying an additional 6 shares during the period. Metis Global Partners LLC raised its position in shares of First Citizens BancShares by 4.9% in the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares in the last quarter. HB Wealth Management LLC raised its position in shares of First Citizens BancShares by 3.9% in the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after acquiring an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV lifted its stake in shares of First Citizens BancShares by 1.8% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after purchasing an additional 8 shares during the period. Finally, Mount Lucas Management LP boosted its position in shares of First Citizens BancShares by 2.6% during the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after purchasing an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on FCNCA shares. 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 report on Tuesday, November 26th. Wedbush cut their price objective 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. JPMorgan Chase & Co. decreased their target price 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 note on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $2,157.64.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,086.91 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The business’s fifty day simple moving average is $2,113.46 and its two-hundred day simple moving average is $1,939.71. 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 cap of $29.20 billion, a price-to-earnings ratio of 11.96 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS 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 analysts’ expectations of $2.36 billion. During the same period last year, the business earned $55.92 earnings per share. Research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 0.37%. First Citizens BancShares’s payout ratio is currently 4.47%.

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.