Intech Investment Management LLC Acquires 582 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Intech Investment Management LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 173.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 917 shares of the bank’s stock after acquiring an additional 582 shares during the period. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FCNCA. Tobam bought a new position in First Citizens BancShares in the 4th quarter worth $35,000. Benjamin Edwards Inc. purchased a new stake in First Citizens BancShares in the 4th quarter worth $40,000. Bessemer Group Inc. purchased a new stake in First Citizens BancShares in the 3rd quarter worth $62,000. American International Group Inc. raised its position in shares of First Citizens BancShares by 95.4% during the 1st quarter. American International Group Inc. now owns 127 shares of the bank’s stock valued at $85,000 after buying an additional 62 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of First Citizens BancShares by 220.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 128 shares of the bank’s stock valued at $102,000 after buying an additional 88 shares in the last quarter. Institutional investors own 66.53% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,306.03 on Monday. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 1.85 and a beta of 0.99. First Citizens BancShares, Inc. has a 12 month low of $505.84 and a 12 month high of $1,345.44. The firm’s 50-day moving average is $951.66 and its 200 day moving average is $835.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.46.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a yield of 0.23%. First Citizens BancShares’s dividend payout ratio is currently 0.43%.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. bought 235 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were acquired at an average cost of $650.00 per share, for a total transaction of $152,750.00. Following the purchase, the chief executive officer now directly owns 93,467 shares of the company’s stock, valued at $60,753,550. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Frank B. Holding, Jr. bought 235 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were acquired at an average cost of $650.00 per share, for a total transaction of $152,750.00. Following the purchase, the chief executive officer now directly owns 93,467 shares of the company’s stock, valued at $60,753,550. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig L. Nix bought 70 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was bought at an average price of $710.04 per share, for a total transaction of $49,702.80. Following the completion of the purchase, the chief financial officer now directly owns 1,046 shares in the company, valued at $742,701.84. The disclosure for this purchase can be found here. Insiders have purchased 563 shares of company stock worth $373,838 in the last three months. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several recent research reports. UBS Group upgraded shares of First Citizens BancShares from a “sell” rating to a “buy” rating and upped their target price for the company from $538.00 to $1,206.00 in a research report on Wednesday, April 5th. StockNews.com began coverage on shares of First Citizens BancShares in a report on Thursday. They set a “sell” rating on the stock. Finally, DA Davidson upped their price target on shares of First Citizens BancShares from $825.00 to $1,025.00 and gave the company a “neutral” rating in a report on Tuesday, March 28th.

About First Citizens BancShares

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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.