First Citizens BancShares, Inc. $FCNCA Stock Holdings Boosted by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,310 shares of the bank’s stock after acquiring an additional 10,948 shares during the period. Alliancebernstein L.P. owned approximately 0.63% of First Citizens BancShares worth $140,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FCNCA. Schonfeld Strategic Advisors LLC raised its holdings in shares of First Citizens BancShares by 335.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,128 shares of the bank’s stock valued at $2,018,000 after buying an additional 869 shares during the last quarter. Creative Planning increased its position in First Citizens BancShares by 6.7% in the 3rd quarter. Creative Planning now owns 1,699 shares of the bank’s stock valued at $3,040,000 after acquiring an additional 106 shares during the period. Credit Agricole S A acquired a new position in First Citizens BancShares during the 3rd quarter worth $537,000. Virtu Financial LLC raised its stake in shares of First Citizens BancShares by 432.3% during the third quarter. Virtu Financial LLC now owns 3,151 shares of the bank’s stock valued at $5,636,000 after purchasing an additional 2,559 shares in the last quarter. Finally, Caisse de depot et placement du Quebec lifted its holdings in First Citizens BancShares by 26.6% in the third quarter. Caisse de depot et placement du Quebec now owns 5,052 shares of the bank’s stock worth $9,039,000 after purchasing an additional 1,061 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,766.01 on Tuesday. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a market cap of $21.09 billion, a PE ratio of 10.66 and a beta of 0.68. The business has a fifty day simple moving average of $2,040.13 and a 200-day simple moving average of $1,951.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FCNCA shares. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a research note on Tuesday, January 6th. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Zacks Research lowered First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Finally, TD Cowen dropped their target price on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.