Wells Fargo & Company MN raised its position in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,415 shares of the bank’s stock after purchasing an additional 3,788 shares during the quarter. Wells Fargo & Company MN owned 1.29% of First Citizens BancShares worth $60,434,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FCNCA. Toronto Dominion Bank acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at about $35,000. Quantamental Technologies LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $38,000. Quad Cities Investment Group LLC grew its position in shares of First Citizens BancShares by 50.0% in the fourth quarter. Quad Cities Investment Group LLC now owns 150 shares of the bank’s stock valued at $57,000 after purchasing an additional 50 shares in the last quarter. Parallel Advisors LLC grew its position in shares of First Citizens BancShares by 958.8% in the fourth quarter. Parallel Advisors LLC now owns 180 shares of the bank’s stock valued at $67,000 after purchasing an additional 163 shares in the last quarter. Finally, Bruderman Asset Management LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $151,000. Institutional investors and hedge funds own 44.42% of the company’s stock.
First Citizens BancShares stock traded up $2.94 during mid-day trading on Monday, hitting $453.21. The company’s stock had a trading volume of 57,700 shares, compared to its average volume of 45,471. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 12.92 and a beta of 1.18. First Citizens BancShares Inc. has a 1 year low of $355.18 and a 1 year high of $488.44. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $437.63.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, June 14th.
In other First Citizens BancShares news, Chairman Frank B. Holding, Jr. purchased 100 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of $370.00 per share, for a total transaction of $37,000.00. Following the completion of the purchase, the chairman now directly owns 386,303 shares in the company, valued at $142,932,110. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Claire H. Bristow sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $4,480,000.00. Following the completion of the sale, the insider now owns 30,000 shares in the company, valued at $13,440,000. The disclosure for this sale can be found here. Over the last quarter, insiders bought 8,845 shares of company stock worth $3,315,615. Insiders own 16.20% of the company’s stock.
Separately, BidaskClub lowered First Citizens BancShares from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th.
About First Citizens BancShares
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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