Janney Montgomery Scott LLC Buys Shares of 707 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Janney Montgomery Scott LLC purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) during the 3rd quarter, Holdings Channel reports. The firm purchased 707 shares of the bank’s stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ronald Blue Trust Inc. acquired a new stake in First Citizens BancShares in the second quarter worth approximately $29,000. Washington Trust Advisors Inc. lifted its holdings in shares of First Citizens BancShares by 875.0% in the third quarter. Washington Trust Advisors Inc. now owns 39 shares of the bank’s stock valued at $31,000 after buying an additional 35 shares during the period. National Bank of Canada FI boosted its stake in First Citizens BancShares by 313.3% during the second quarter. National Bank of Canada FI now owns 62 shares of the bank’s stock valued at $41,000 after buying an additional 47 shares in the last quarter. CWM LLC grew its holdings in First Citizens BancShares by 121.4% during the second quarter. CWM LLC now owns 93 shares of the bank’s stock worth $61,000 after acquiring an additional 51 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in First Citizens BancShares by 17.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 102 shares of the bank’s stock valued at $67,000 after acquiring an additional 15 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, insider Jeffery L. Ward bought 1,600 shares of the stock in a transaction on Tuesday, December 13th. The shares were bought at an average price of $19.93 per share, with a total value of $31,888.00. Following the purchase, the insider now directly owns 5,600 shares in the company, valued at approximately $111,608. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 0.9 %

NASDAQ:FCNCA opened at $797.22 on Friday. The stock has a fifty day simple moving average of $782.28 and a 200 day simple moving average of $794.68. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 12.67 and a beta of 0.95. First Citizens BancShares, Inc. has a 1-year low of $598.01 and a 1-year high of $885.38. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.58.

First Citizens BancShares (NASDAQ:FCNCAGet Rating) last announced its earnings results on Thursday, October 27th. The bank reported $20.77 EPS for the quarter, topping the consensus estimate of $19.88 by $0.89. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.02 billion. First Citizens BancShares had a net margin of 21.12% and a return on equity of 12.43%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 79.36 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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

Analyst Upgrades and Downgrades

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

First Citizens BancShares Company 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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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