Vinva Investment Management Ltd Buys 267 Shares of First Citizens BancShares, Inc. $FCNCA

Vinva Investment Management Ltd boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 226.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 385 shares of the bank’s stock after purchasing an additional 267 shares during the quarter. Vinva Investment Management Ltd’s holdings in First Citizens BancShares were worth $692,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after buying an additional 681 shares during the last quarter. Empowered Funds LLC raised its position in shares of First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after acquiring an additional 164 shares during the period. Focus Partners Wealth boosted its stake in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after acquiring an additional 12 shares during the last quarter. Savant Capital LLC bought a new position in First Citizens BancShares during the 2nd quarter worth approximately $1,187,000. Finally, Aviva PLC grew its holdings in First Citizens BancShares by 867.3% during the second quarter. Aviva PLC now owns 4,353 shares of the bank’s stock valued at $8,517,000 after purchasing an additional 3,903 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. Finally, Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Trading Up 0.3%

Shares of NASDAQ:FCNCA opened at $1,912.46 on Wednesday. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 11.54 and a beta of 0.68. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,232.21. The company’s fifty day simple moving average is $2,068.48 and its 200 day simple moving average is $1,957.32. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

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.