Jacobs Asset Management LLC Purchases 1,250 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Jacobs Asset Management LLC increased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,250 shares of the bank’s stock after buying an additional 1,250 shares during the quarter. First Citizens BancShares comprises approximately 7.6% of Jacobs Asset Management LLC’s portfolio, making the stock its 3rd largest position. Jacobs Asset Management LLC’s holdings in First Citizens BancShares were worth $11,506,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of First Citizens BancShares by 3,577.5% during the 2nd quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock worth $58,943,000 after purchasing an additional 34,058 shares in the last quarter. FMR LLC lifted its stake in First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after buying an additional 29,194 shares during the period. International Assets Investment Management LLC increased its stake in shares of First Citizens BancShares by 183,992.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after purchasing an additional 23,919 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in First Citizens BancShares by 6,773.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,223.21 on Tuesday. 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 debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 12.74 and a beta of 0.83. The stock’s 50 day moving average price is $2,061.12 and its 200 day moving average price is $1,917.06.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period in the prior year, the company posted $55.92 earnings per share. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.88 earnings per share 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. Stockholders of record on Friday, November 29th will be given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several analyst reports. Wedbush lowered their price target on shares of 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. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. decreased their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report 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. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,093.40.

About First Citizens BancShares

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.