First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Lifted by US Bancorp DE

US Bancorp DE grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 821 shares of the bank’s stock after buying an additional 114 shares during the period. US Bancorp DE’s holdings in First Citizens BancShares were worth $656,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FCNCA. Raymond James & Associates lifted its position in shares of First Citizens BancShares by 19.9% in the 1st quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock worth $1,970,000 after buying an additional 491 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in First Citizens BancShares in the first quarter worth about $207,000. Cetera Advisor Networks LLC lifted its holdings in First Citizens BancShares by 21.0% in the first quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock worth $341,000 after acquiring an additional 89 shares during the last quarter. MetLife Investment Management LLC bought a new position in First Citizens BancShares in the first quarter worth about $162,000. Finally, Rhumbline Advisers lifted its holdings in shares of First Citizens BancShares by 60.4% in the 1st quarter. Rhumbline Advisers now owns 11,614 shares of the bank’s stock worth $7,730,000 after purchasing an additional 4,374 shares during the last quarter. Institutional investors own 66.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jeffery L. Ward bought 1,600 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $31,888.00. Following the completion of the transaction, the insider now directly owns 5,600 shares of the company’s stock, valued at approximately $111,608. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is owned by insiders.

First Citizens BancShares Stock Performance

FCNCA opened at $797.22 on Friday. The business’s 50 day moving average is $782.28 and its 200-day moving average is $793.91. The stock has a market cap of $11.56 billion, a PE ratio of 12.67 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58. First Citizens BancShares, Inc. has a twelve month low of $598.01 and a twelve month high of $885.38.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last announced its earnings results on Thursday, October 27th. The bank reported $20.77 earnings per share for the quarter, beating the consensus estimate of $19.88 by $0.89. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.02 billion. First Citizens BancShares had a return on equity of 12.43% and a net margin of 21.12%. On average, analysts predict that First Citizens BancShares, Inc. will post 79.36 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a dividend of $0.75 per share. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.47. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Tuesday, November 29th. First Citizens BancShares’s payout ratio is currently 4.77%.

Analysts Set New Price Targets

FCNCA has been the topic of several recent research reports. DA Davidson downgraded First Citizens BancShares from a “buy” rating to a “neutral” rating and set a $950.00 price target on the stock. in a report on Thursday, October 6th. StockNews.com started coverage on First Citizens BancShares in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

First Citizens BancShares 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.