First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by First Trust Advisors LP

Posted by on Mar 10th, 2023

First Trust Advisors LP raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 104.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,115 shares of the bank’s stock after buying an additional 10,786 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of First Citizens BancShares worth $16,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. Raymond James & Associates increased its stake in First Citizens BancShares by 19.9% during the first quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock worth $1,970,000 after acquiring an additional 491 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in First Citizens BancShares during the 1st quarter worth approximately $207,000. US Bancorp DE raised its holdings in First Citizens BancShares by 277.0% in the first quarter. US Bancorp DE now owns 475 shares of the bank’s stock valued at $317,000 after buying an additional 349 shares during the period. Cetera Advisor Networks LLC lifted its position in First Citizens BancShares by 21.0% during the first quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock valued at $341,000 after buying an additional 89 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in First Citizens BancShares during the first quarter worth approximately $162,000. Institutional investors and hedge funds own 66.53% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 4th.

First Citizens BancShares Stock Down 5.4 %

First Citizens BancShares stock opened at $642.67 on Friday. The company has a 50-day simple moving average of $764.30 and a 200-day simple moving average of $794.66. First Citizens BancShares, Inc. has a one year low of $598.01 and a one year high of $885.38. The firm has a market capitalization of $9.33 billion, a P/E ratio of 9.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 0.82.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $20.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $23.34 by ($2.40). First Citizens BancShares had a net margin of 19.79% and a return on equity of 13.07%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 89.53 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $3.00 dividend on an annualized basis and a yield of 0.47%. First Citizens BancShares’s payout ratio is currently 4.45%.

Insider Activity

In related news, CFO Craig L. Nix acquired 70 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was bought at an average cost of $710.04 per share, with a total value of $49,702.80. Following the completion of the acquisition, the chief financial officer now owns 1,046 shares in the company, valued at $742,701.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Craig L. Nix acquired 73 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was bought at an average price of $678.79 per share, with a total value of $49,551.67. Following the acquisition, the chief financial officer now owns 1,119 shares in the company, valued at approximately $759,566.01. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig L. Nix acquired 70 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was bought at an average price of $710.04 per share, for a total transaction of $49,702.80. Following the completion of the acquisition, the chief financial officer now owns 1,046 shares of the company’s stock, valued at $742,701.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,018 shares of company stock valued at $1,035,436. 13.40% of the stock is owned by insiders.

First Citizens BancShares Company Profile

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First Citizens BancShares, Inc is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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