B. Riley Wealth Advisors Inc. Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

B. Riley Wealth Advisors Inc. bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 110 shares of the bank’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. M&T Bank Corp lifted its position in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares in the last quarter. Wedbush Securities Inc. boosted 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 boosted its holdings in shares of First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the period. HB Wealth Management LLC grew its position in First Citizens BancShares by 3.9% during the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock valued at $315,000 after purchasing an additional 7 shares in the last quarter. Finally, Tandem Capital Management Corp ADV increased its stake in First Citizens BancShares by 1.8% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after buying an additional 8 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,243.64.

First Citizens BancShares Stock Up 2.9 %

Shares of FCNCA stock opened at $2,130.51 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 company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $29.80 billion, a PE ratio of 12.21 and a beta of 0.83. The stock has a 50 day moving average of $2,125.14 and a 200-day moving average of $1,955.08.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the previous year, the company earned $55.92 earnings per share. On average, equities analysts predict that First Citizens BancShares, Inc. will post 187.88 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 4.47%.

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.