Gabelli Funds LLC Sells 25 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gabelli Funds LLC reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,548 shares of the bank’s stock after selling 25 shares during the period. Gabelli Funds LLC’s holdings in First Citizens BancShares were worth $2,136,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BDO Wealth Advisors LLC boosted its holdings in shares of First Citizens BancShares by 1,900.0% during the second quarter. BDO Wealth Advisors LLC now owns 20 shares of the bank’s stock worth $26,000 after purchasing an additional 19 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares during the period. Castleview Partners LLC purchased a new stake in shares of First Citizens BancShares during the second quarter worth about $31,000. Dougherty Wealth Advisers LLC bought a new position in First Citizens BancShares in the second quarter worth about $40,000. Finally, Geneos Wealth Management Inc. raised its stake in First Citizens BancShares by 550.0% in the second quarter. Geneos Wealth Management Inc. now owns 39 shares of the bank’s stock worth $50,000 after buying an additional 33 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on FCNCA. UBS Group increased their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. DA Davidson reissued a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, Raymond James started coverage on shares of First Citizens BancShares in a research note on Tuesday, November 28th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,620.67.

View Our Latest Report on First Citizens BancShares

Insider Buying and Selling

In other news, Director Ellen R. Alemany sold 2,000 shares of First Citizens BancShares stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $1,453.96, for a total transaction of $2,907,920.00. Following the transaction, the director now owns 15,097 shares in the company, valued at approximately $21,950,434.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ellen R. Alemany sold 2,000 shares of First Citizens BancShares stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $1,453.96, for a total transaction of $2,907,920.00. Following the transaction, the director now owns 15,097 shares in the company, valued at approximately $21,950,434.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ellen R. Alemany sold 720 shares of First Citizens BancShares stock in a transaction on Friday, December 15th. The stock was sold at an average price of $1,451.91, for a total transaction of $1,045,375.20. Following the transaction, the director now owns 14,377 shares in the company, valued at approximately $20,874,110.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,000 shares of company stock worth $7,260,162. 13.40% of the stock is owned by insiders.

First Citizens BancShares Trading Up 1.1 %

Shares of FCNCA stock opened at $1,494.81 on Friday. First Citizens BancShares, Inc. has a 12-month low of $505.84 and a 12-month high of $1,552.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.91. The firm’s 50 day moving average is $1,438.45 and its 200 day moving average is $1,407.14. The stock has a market capitalization of $21.70 billion, a P/E ratio of 1.91 and a beta of 0.89.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

First Citizens BancShares Company Profile

(Free Report)

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.

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

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