First Citizens BancShares, Inc. $FCNCA Position Raised by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 65.5% in the 1st quarter, Holdings Channel reports. The fund owned 6,301 shares of the bank’s stock after buying an additional 2,493 shares during the period. Quantinno Capital Management LP’s holdings in First Citizens BancShares were worth $11,876,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in First Citizens BancShares in the 4th quarter worth about $26,000. Reflection Asset Management bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $45,000. Global Assets Advisory LLC acquired a new position in shares of First Citizens BancShares during the first quarter worth approximately $45,000. UMB Bank n.a. boosted its position in shares of First Citizens BancShares by 50.0% during the fourth quarter. UMB Bank n.a. now owns 24 shares of the bank’s stock worth $52,000 after buying an additional 8 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in First Citizens BancShares in the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 1.5%

Shares of NASDAQ FCNCA opened at $2,218.44 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,237.81. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.70 and a beta of 0.62. The business has a fifty day simple moving average of $2,089.19 and a 200-day simple moving average of $2,017.45.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $56.68. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.16 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 16.28%. Sell-side analysts predict that First Citizens BancShares, Inc. will post 187.23 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is 4.49%.

Insider Activity

In other news, CEO Frank B. Holding, Jr. purchased 528 shares of First Citizens BancShares stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the transaction, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 7,190 shares of company stock worth $12,573,868 in the last quarter. 14.63% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on FCNCA shares. Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a research note on Wednesday, April 8th. Jefferies Financial Group reissued a “hold” rating and set a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 23rd. Weiss Ratings raised shares of First Citizens BancShares from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a report on Friday, July 24th. Finally, Barclays raised their target price on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2,278.31.

View Our Latest Stock Analysis on FCNCA

First Citizens BancShares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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