Cerity Partners LLC Has $2.38 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cerity Partners LLC boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290 shares of the bank’s stock after acquiring an additional 327 shares during the quarter. Cerity Partners LLC’s holdings in First Citizens BancShares were worth $2,375,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FCNCA. Reinhart Partners LLC. increased its holdings in shares of First Citizens BancShares by 0.7% in the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock valued at $104,562,000 after purchasing an additional 416 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in First Citizens BancShares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after purchasing an additional 1,339 shares during the period. Zurich Insurance Group Ltd FI raised its holdings in First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after purchasing an additional 29,194 shares during the last quarter. Sculptor Capital LP grew its holdings in First Citizens BancShares by 16.8% during the 2nd quarter. Sculptor Capital LP now owns 37,998 shares of the bank’s stock worth $63,974,000 after acquiring an additional 5,467 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its holdings in First Citizens BancShares by 8.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 37,697 shares of the bank’s stock valued at $63,467,000 after purchasing an additional 2,926 shares during the last quarter. 61.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FCNCA shares. JPMorgan Chase & Co. decreased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush cut their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,093.40.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,295.00 on Monday. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 13.15 and a beta of 0.80. The stock’s 50 day moving average price is $2,055.78 and its two-hundred day moving average price is $1,913.78. 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 data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $55.92 earnings per share. On average, analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 3.76%.

First Citizens BancShares Company 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.