Reinhart Partners LLC. Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Reinhart Partners LLC. grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,981 shares of the bank’s stock after acquiring an additional 1,183 shares during the period. First Citizens BancShares accounts for 4.7% of Reinhart Partners LLC.’s holdings, making the stock its biggest holding. Reinhart Partners LLC. owned about 0.41% of First Citizens BancShares worth $122,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares in the 3rd quarter worth approximately $39,000. GAMMA Investing LLC lifted its position in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the last quarter. National Bank of Canada FI lifted its position in First Citizens BancShares by 17.7% during the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after acquiring an additional 11 shares during the last quarter. Quarry LP purchased a new stake in First Citizens BancShares during the second quarter valued at approximately $126,000. Finally, Private Trust Co. NA increased its stake in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after acquiring an additional 84 shares during the period. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Up 0.1 %

FCNCA stock traded up $2.50 during trading on Monday, reaching $2,066.30. 29,990 shares of the stock were exchanged, compared to its average volume of 60,563. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The firm has a market capitalization of $28.91 billion, a price-to-earnings ratio of 11.84 and a beta of 0.86. The business has a 50 day moving average price of $2,161.81 and a 200-day moving average price of $2,004.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $55.92 earnings per share. On average, research analysts predict that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.95 per share. The ex-dividend date was Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. UBS Group initiated coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and increased their price objective for the stock 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. Finally, The Goldman Sachs Group raised their price target on shares of 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and an average price target of $2,290.75.

First Citizens BancShares Company 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.