Vinva Investment Management Ltd Acquires 267 Shares of First Citizens BancShares, Inc. $FCNCA

Vinva Investment Management Ltd increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 226.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 385 shares of the bank’s stock after purchasing an additional 267 shares during the quarter. Vinva Investment Management Ltd’s holdings in First Citizens BancShares were worth $692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth about $27,000. UMB Bank n.a. raised its holdings in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after acquiring an additional 8 shares in the last quarter. MAI Capital Management raised its holdings in First Citizens BancShares by 500.0% during the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Steph & Co. acquired a new position in First Citizens BancShares during the third quarter valued at approximately $32,000. Finally, Root Financial Partners LLC bought a new position in First Citizens BancShares in the third quarter valued at approximately $32,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Up 0.3%

FCNCA stock opened at $1,912.46 on Wednesday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 11.54 and a beta of 0.68. The company has a fifty day moving average price of $2,068.48 and a two-hundred day moving average price of $1,957.32. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FCNCA shares. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. TD Cowen lowered their target price on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a research report on Wednesday, February 4th. Finally, Zacks Research lowered shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.