Intech Investment Management LLC Acquires 652 Shares of First Citizens BancShares, Inc. $FCNCA

Intech Investment Management LLC boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 98.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,317 shares of the bank’s stock after purchasing an additional 652 shares during the quarter. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $2,356,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Citigroup Inc. raised its holdings in First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after acquiring an additional 3,215 shares in the last quarter. AlphaQuest LLC raised its stake in First Citizens BancShares by 577.7% in the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 647 shares in the last quarter. Founders Financial Alliance LLC lifted its position in First Citizens BancShares by 484.7% during the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock worth $2,742,000 after purchasing an additional 1,270 shares during the period. AdvisorShares Investments LLC bought a new stake in First Citizens BancShares during the third quarter worth about $415,000. Finally, Thrivent Financial for Lutherans grew its stake in First Citizens BancShares by 8.9% during the third quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock worth $78,341,000 after buying an additional 3,587 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 1.2%

Shares of FCNCA opened at $1,973.18 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 11.91 and a beta of 0.68. The stock has a fifty day moving average of $2,094.18 and a 200-day moving average of $1,957.76.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. Barclays dropped their price objective on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full?service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.