476 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, Holdings Channel reports. The firm purchased 476 shares of the bank’s stock, valued at approximately $876,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in First Citizens BancShares by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock worth $2,019,000 after acquiring an additional 6 shares during the period. Metis Global Partners LLC lifted its position in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares during the period. HB Wealth Management LLC lifted its position in First Citizens BancShares by 3.9% during the 2nd quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after acquiring an additional 7 shares during the period. Tandem Capital Management Corp ADV lifted its position in First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares during the period. Finally, Mount Lucas Management LP lifted its position in First Citizens BancShares by 2.6% during the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after acquiring an additional 8 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent research reports. Wedbush decreased their price objective 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. The Goldman Sachs Group raised their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on 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. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,093.40.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,308.48 on Friday. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The company has a market capitalization of $32.30 billion, a P/E ratio of 13.23 and a beta of 0.80. The business has a 50 day moving average price of $2,041.80 and a 200 day moving average price of $1,904.59. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

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 firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business earned $55.92 earnings per share. Sell-side analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.95 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) 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.