MML Investors Services LLC Buys 50 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

MML Investors Services LLC boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 1,297 shares of the bank’s stock after acquiring an additional 50 shares during the period. MML Investors Services LLC’s holdings in First Citizens BancShares were worth $2,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after buying an additional 7,613 shares during the period. Reinhart Partners LLC. lifted its holdings in shares of First Citizens BancShares by 0.7% during the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after buying an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of First Citizens BancShares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after acquiring an additional 1,339 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its stake in shares of First Citizens BancShares by 225.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after acquiring an additional 29,194 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 0.6 %

FCNCA stock opened at $2,086.91 on Monday. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year 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. The business’s 50 day moving average is $2,113.46 and its 200-day moving average is $1,941.09. The firm has a market cap of $29.20 billion, a P/E ratio of 11.96 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $55.92 earnings per share. Equities 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Analyst Ratings Changes

FCNCA has been the subject of several research analyst reports. Citigroup upgraded shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $2,100.00 to $2,500.00 in a research report on Wednesday, December 4th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wedbush lowered their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,157.64.

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.