Bridgewater Associates LP Has $2.33 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bridgewater Associates LP decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 50.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,268 shares of the bank’s stock after selling 1,293 shares during the period. Bridgewater Associates LP’s holdings in First Citizens BancShares were worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after buying an additional 33,713 shares during the period. Reinhart Partners LLC. raised its position in shares of First Citizens BancShares by 0.7% in the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after acquiring an additional 416 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after purchasing an additional 1,339 shares during the period. Zurich Insurance Group Ltd FI boosted its position in shares of First Citizens BancShares by 225.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after purchasing an additional 29,194 shares in the last quarter. Finally, Sculptor Capital LP grew its stake in First Citizens BancShares by 16.8% during the second quarter. Sculptor Capital LP now owns 37,998 shares of the bank’s stock worth $63,974,000 after purchasing an additional 5,467 shares during the period. 61.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wedbush dropped their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. 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 stock a “buy” rating in a report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $2,093.40.

First Citizens BancShares Stock Down 0.5 %

Shares of NASDAQ FCNCA opened at $2,295.00 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The stock has a market capitalization of $32.10 billion, a P/E ratio of 13.15 and a beta of 0.80. The company has a 50-day moving average price of $2,055.78 and a 200-day moving average price of $1,911.23.

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

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.95 dividend. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is presently 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.