First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 730 shares of the bank’s stock after acquiring an additional 105 shares during the period. Raymond James Trust N.A.’s holdings in First Citizens BancShares were worth $1,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth about $33,000. V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares in the second quarter valued at about $35,000. Gradient Investments LLC purchased a new stake in shares of First Citizens BancShares in the second quarter valued at about $52,000. Blue Trust Inc. grew its position in shares of First Citizens BancShares by 120.0% in 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 during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of recent research reports. Wedbush reduced their target price 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. decreased 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 note on Friday, October 25th. Finally, Barclays boosted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,025.90.

First Citizens BancShares Stock Up 1.2 %

Shares of NASDAQ:FCNCA opened at $2,353.08 on Friday. 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 $32.92 billion, a price-to-earnings ratio of 13.48 and a beta of 0.80. The stock’s 50-day moving average price is $2,016.00 and its two-hundred day moving average price is $1,890.94. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,363.90.

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 the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company earned $55.92 earnings per share. On average, research analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 3.76%.

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.