Separately, ValuEngine downgraded shares of First Citizens BancShares from a hold rating to a sell rating in a research note on Thursday, August 1st.
NASDAQ FCNCA traded up $2.95 on Thursday, reaching $480.72. The stock had a trading volume of 38,711 shares, compared to its average volume of 45,597. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 12.42 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. First Citizens BancShares has a 12-month low of $355.18 and a 12-month high of $485.00. The stock has a fifty day moving average price of $447.71 and a two-hundred day moving average price of $439.28.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 0.33%.
In other First Citizens BancShares news, President Peter M. Bristow sold 9,545 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $472.00, for a total value of $4,505,240.00. Following the completion of the transaction, the president now directly owns 6,737 shares of the company’s stock, valued at $3,179,864. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Olivia Britton Holding bought 2,250 shares of the company’s stock in a transaction on Monday, June 17th. The stock was bought at an average cost of $375.00 per share, with a total value of $843,750.00. Following the completion of the acquisition, the insider now owns 424,130 shares of the company’s stock, valued at approximately $159,048,750. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 8,810 shares of company stock valued at $3,306,975 and have sold 60,000 shares valued at $27,345,123. Corporate insiders own 16.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 35.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,486 shares of the bank’s stock worth $11,572,000 after purchasing an additional 6,918 shares in the last quarter. First Trust Advisors LP boosted its position in First Citizens BancShares by 12.3% during the second quarter. First Trust Advisors LP now owns 24,281 shares of the bank’s stock worth $10,933,000 after acquiring an additional 2,654 shares during the last quarter. Parametrica Management Ltd boosted its position in First Citizens BancShares by 39.0% during the first quarter. Parametrica Management Ltd now owns 1,051 shares of the bank’s stock worth $428,000 after acquiring an additional 295 shares during the last quarter. BB&T Corp boosted its position in First Citizens BancShares by 7.4% during the second quarter. BB&T Corp now owns 6,771 shares of the bank’s stock worth $3,049,000 after acquiring an additional 469 shares during the last quarter. Finally, Aperio Group LLC boosted its position in First Citizens BancShares by 33.6% during the second quarter. Aperio Group LLC now owns 8,601 shares of the bank’s stock worth $3,873,000 after acquiring an additional 2,164 shares during the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.
First Citizens BancShares Company Profile
First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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