HighVista Strategies LLC Purchases Shares of 500 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

HighVista Strategies LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 500 shares of the bank’s stock, valued at approximately $920,000.

A number of other hedge funds have also made changes to their positions in the business. Raymond James & Associates grew its position in shares of First Citizens BancShares by 5.1% in the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after buying an additional 811 shares during the last quarter. Balentine LLC acquired a new position in First Citizens BancShares in the third quarter valued at $3,564,000. Cetera Investment Advisers grew its holdings in shares of First Citizens BancShares by 301.3% during the first quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock worth $2,034,000 after purchasing an additional 934 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in shares of First Citizens BancShares by 22.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock worth $5,368,000 after purchasing an additional 537 shares in the last quarter. Finally, Hiddenite Capital Partners LP lifted its holdings in shares of First Citizens BancShares by 14.1% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Down 3.1 %

FCNCA stock opened at $2,223.21 on Tuesday. The stock has a market capitalization of $31.10 billion, a PE ratio of 12.74 and a beta of 0.83. The company has a fifty day moving average of $2,061.12 and a 200-day moving average of $1,917.06. 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 one year low of $1,363.97 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results 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 firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $55.92 earnings per share. As a group, analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. 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. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Analyst Ratings Changes

FCNCA has been the topic of a number of research reports. Wedbush dropped their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.