Legal & General Group Plc increased its holdings in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,086 shares of the bank’s stock after purchasing an additional 222 shares during the quarter. Legal & General Group Plc’s holdings in First Citizens BancShares were worth $1,541,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of First Citizens BancShares by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,681 shares of the bank’s stock worth $16,590,000 after purchasing an additional 276 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of First Citizens BancShares by 184.5% during the 3rd quarter. Martingale Asset Management L P now owns 80,840 shares of the bank’s stock worth $36,564,000 after purchasing an additional 52,424 shares during the last quarter. BlackRock Inc. lifted its position in shares of First Citizens BancShares by 2.8% during the 3rd quarter. BlackRock Inc. now owns 362,156 shares of the bank’s stock worth $163,794,000 after purchasing an additional 9,699 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of First Citizens BancShares by 40.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 942 shares of the bank’s stock worth $426,000 after purchasing an additional 270 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of First Citizens BancShares by 109.1% during the 3rd quarter. Verition Fund Management LLC now owns 1,106 shares of the bank’s stock worth $500,000 after purchasing an additional 577 shares during the last quarter. 46.72% of the stock is owned by institutional investors and hedge funds.
NASDAQ FCNCA opened at $435.18 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.97 and a beta of 1.18. First Citizens BancShares Inc. has a one year low of $355.18 and a one year high of $488.44.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.37%.
In related news, CFO Craig L. Nix bought 84 shares of the stock in a transaction on Wednesday, February 6th. The shares were bought at an average cost of $419.86 per share, for a total transaction of $35,268.24. Following the completion of the transaction, the chief financial officer now owns 243 shares of the company’s stock, valued at approximately $102,025.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have bought 149 shares of company stock worth $59,139. Company insiders own 16.20% of the company’s stock.
Separately, BidaskClub cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.
First Citizens BancShares 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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