Azora Capital LP Has $63.34 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Azora Capital LP lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 42.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,405 shares of the bank’s stock after selling 25,422 shares during the period. First Citizens BancShares comprises about 3.4% of Azora Capital LP’s portfolio, making the stock its 12th biggest holding. Azora Capital LP’s holdings in First Citizens BancShares were worth $63,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in First Citizens BancShares in the 2nd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares in the 3rd quarter valued at $39,000. Gradient Investments LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $52,000. GAMMA Investing LLC grew its position in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Down 0.6 %

FCNCA opened at $2,295.00 on Monday. First Citizens BancShares, Inc. has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The company has a fifty day moving average of $2,055.78 and a 200-day moving average of $1,913.78. The stock has a market cap of $32.11 billion, a PE ratio of 13.15 and a beta of 0.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results 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 net margin of 17.36% and a return on equity of 13.63%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company posted $55.92 EPS. On average, sell-side analysts predict 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. Investors of record on Friday, November 29th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.34%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.76%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several research reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wedbush reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, 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 note on Friday, October 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $2,093.40.

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.