B. Riley Wealth Advisors Inc. Acquires Shares of 110 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

B. Riley Wealth Advisors Inc. bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 110 shares of the bank’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. FMR LLC increased its holdings in First Citizens BancShares by 11.6% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock valued at $107,749,000 after buying an additional 7,613 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of First Citizens BancShares by 0.7% in the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock valued at $104,562,000 after buying an additional 416 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in First Citizens BancShares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after buying an additional 1,339 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in 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 worth $70,979,000 after buying an additional 29,194 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 2.9 %

NASDAQ:FCNCA opened at $2,130.51 on Monday. 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, 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 $29.80 billion, a price-to-earnings ratio of 12.21 and a beta of 0.83. The business’s 50-day moving average price is $2,125.14 and its two-hundred day moving average price is $1,955.08.

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). The firm had revenue of $2.45 billion during 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 prior year, the business earned $55.92 earnings per share. On average, equities analysts expect that First Citizens BancShares, Inc. will post 187.88 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FCNCA shares. JPMorgan Chase & Co. dropped their target price 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. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Hold” and an average price target of $2,243.64.

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.