Alliancebernstein L.P. decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,967 shares of the bank’s stock after selling 1,163 shares during the quarter. Alliancebernstein L.P. owned 1.84% of First Citizens BancShares worth $152,586,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in shares of First Citizens BancShares by 25.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 925 shares of the bank’s stock valued at $780,000 after buying an additional 186 shares during the last quarter. CIBC Asset Management Inc increased its position in First Citizens BancShares by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 400 shares of the bank’s stock worth $337,000 after buying an additional 31 shares during the period. BlackRock Inc. increased its position in First Citizens BancShares by 32.7% in the 3rd quarter. BlackRock Inc. now owns 693,602 shares of the bank’s stock worth $584,823,000 after buying an additional 170,913 shares during the period. Principal Financial Group Inc. increased its position in shares of First Citizens BancShares by 158.2% during the third quarter. Principal Financial Group Inc. now owns 1,265 shares of the bank’s stock valued at $1,067,000 after purchasing an additional 775 shares during the period. Finally, Ceredex Value Advisors LLC increased its position in shares of First Citizens BancShares by 12.4% during the third quarter. Ceredex Value Advisors LLC now owns 170,673 shares of the bank’s stock valued at $143,906,000 after purchasing an additional 18,871 shares during the period. Institutional investors and hedge funds own 54.27% of the company’s stock.
A number of research firms have commented on FCNCA. DA Davidson reduced their price objective on First Citizens BancShares from $1,020.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Friday, October 1st. Zacks Investment Research downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Tuesday.
First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Tuesday, October 26th. The bank reported $12.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $11.73 by $0.44. First Citizens BancShares had a return on equity of 13.73% and a net margin of 28.21%. The firm had revenue of $469.83 million for the quarter, compared to the consensus estimate of $459.50 million. During the same period in the previous year, the business earned $14.03 EPS. On average, equities analysts predict that First Citizens BancShares, Inc. will post 38.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 30th. Shareholders of record on Wednesday, November 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Tuesday, November 9th. First Citizens BancShares’s dividend payout ratio is currently 3.39%.
First Citizens BancShares Profile
First Citizens BancShares, Inc is a bank holding company, which engages in the provision of retail and commercial banking services through its subsidiary. It operates through the following business lines: Card Holder and Merchant Services, Services Charges on Deposit Accounts, Wealth Management Services, Other Service Charges and Fees, Insurance Commissions, ATM Income, and Other.
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