Quarry LP Has $48,000 Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Quarry LP reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 65.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26 shares of the bank’s stock after selling 49 shares during the period. Quarry LP’s holdings in First Citizens BancShares were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FCNCA. Raymond James & Associates grew its position in First Citizens BancShares by 5.1% during the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after buying an additional 811 shares in the last quarter. Balentine LLC acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $3,564,000. Cetera Investment Advisers grew its holdings in shares of First Citizens BancShares by 301.3% during the 1st quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock worth $2,034,000 after purchasing an additional 934 shares in the last quarter. Hiddenite Capital Partners LP increased its position in shares of First Citizens BancShares by 14.1% during the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after purchasing an additional 400 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in shares of First Citizens BancShares by 22.6% in the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after purchasing an additional 537 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 1.5 %

FCNCA opened at $2,121.05 on Wednesday. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The firm has a market cap of $29.67 billion, a PE ratio of 12.15 and a beta of 0.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $2,101.07 and its two-hundred day moving average is $1,934.36.

First Citizens BancShares (NASDAQ:FCNCA) last released 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 net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm earned $55.92 EPS. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.37%. First Citizens BancShares’s payout ratio is presently 4.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FCNCA shares. Wedbush dropped their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday. They issued a “buy” rating and a $2,600.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and a consensus price target of $2,157.64.

First Citizens BancShares 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.