JPMorgan Chase & Co. cut its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,891 shares of the bank’s stock after selling 1,264 shares during the period. JPMorgan Chase & Co. owned 1.39% of First Citizens BancShares worth $152,349,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenleaf Trust lifted its holdings in First Citizens BancShares by 3.1% in the 3rd quarter. Greenleaf Trust now owns 492 shares of the bank’s stock valued at $392,000 after purchasing an additional 15 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of First Citizens BancShares during the 3rd quarter valued at about $1,553,000. MML Investors Services LLC grew its holdings in shares of First Citizens BancShares by 28.2% in the third quarter. MML Investors Services LLC now owns 1,114 shares of the bank’s stock valued at $888,000 after purchasing an additional 245 shares during the period. California Public Employees Retirement System increased its position in First Citizens BancShares by 3.0% during the third quarter. California Public Employees Retirement System now owns 27,704 shares of the bank’s stock worth $22,092,000 after purchasing an additional 813 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in First Citizens BancShares during the third quarter worth about $718,000. Hedge funds and other institutional investors own 66.53% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Frank B. Holding, Jr. purchased 235 shares of First Citizens BancShares stock in a transaction dated Tuesday, March 7th. The stock was bought at an average cost of $650.00 per share, with a total value of $152,750.00. Following the purchase, the chief executive officer now owns 93,467 shares in the company, valued at approximately $60,753,550. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other First Citizens BancShares news, CFO Craig L. Nix acquired 73 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were purchased at an average price of $678.79 per share, with a total value of $49,551.67. Following the completion of the transaction, the chief financial officer now owns 1,119 shares in the company, valued at $759,566.01. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank B. Holding, Jr. acquired 235 shares of the stock in a transaction dated Tuesday, March 7th. The shares were bought at an average cost of $650.00 per share, for a total transaction of $152,750.00. Following the acquisition, the chief executive officer now owns 93,467 shares in the company, valued at approximately $60,753,550. The disclosure for this purchase can be found here. Insiders acquired a total of 473 shares of company stock worth $309,552 over the last ninety days. 13.40% of the stock is owned by company insiders.
Analysts Set New Price Targets
First Citizens BancShares Price Performance
Shares of FCNCA opened at $1,298.03 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.46. First Citizens BancShares, Inc. has a twelve month low of $505.84 and a twelve month high of $1,345.44. The firm has a market capitalization of $18.85 billion, a PE ratio of 1.84 and a beta of 0.99. The stock’s 50 day moving average is $1,094.30 and its two-hundred day moving average is $867.94.
First Citizens BancShares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a yield of 0.23%. First Citizens BancShares’s dividend payout ratio (DPR) is 0.43%.
First Citizens BancShares Company Profile
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.
Read More
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