Systematic Financial Management LP Sells 22,224 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Systematic Financial Management LP trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,022 shares of the bank’s stock after selling 22,224 shares during the period. First Citizens BancShares makes up about 1.7% of Systematic Financial Management LP’s holdings, making the stock its 4th biggest position. Systematic Financial Management LP owned approximately 0.26% of First Citizens BancShares worth $68,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of First Citizens BancShares by 3,577.5% during the 2nd quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock worth $58,943,000 after acquiring an additional 34,058 shares in the last quarter. FMR LLC boosted its stake in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares during the period. Zurich Insurance Group Ltd FI lifted its position in shares of First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after acquiring an additional 29,194 shares during the period. International Assets Investment Management LLC lifted its position in shares of First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after acquiring an additional 23,919 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of First Citizens BancShares by 6,773.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock worth $40,274,000 after acquiring an additional 23,573 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Down 0.5 %

NASDAQ FCNCA opened at $2,197.92 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78. The stock has a fifty day moving average of $2,075.39 and a 200-day moving average of $1,922.12. The stock has a market capitalization of $30.75 billion, a P/E ratio of 12.59 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.36 billion. During the same period last year, the firm earned $55.92 earnings per share. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares’s payout ratio is currently 4.47%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. 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. reduced their price objective on 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. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wedbush cut their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $2,100.00 to $2,500.00 in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2,113.40.

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.