First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,027 shares of the bank’s stock after selling 227 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Citizens BancShares were worth $8,318,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Smith Salley & Associates grew its position in shares of First Citizens BancShares by 2.3% during the 2nd quarter. Smith Salley & Associates now owns 358 shares of the bank’s stock valued at $459,000 after buying an additional 8 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after buying an additional 8 shares during the last quarter. Cerity Partners LLC grew its position in shares of First Citizens BancShares by 1.5% during the 2nd quarter. Cerity Partners LLC now owns 762 shares of the bank’s stock valued at $978,000 after buying an additional 11 shares during the last quarter. Commonwealth Equity Services LLC grew its position in First Citizens BancShares by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after purchasing an additional 12 shares during the last quarter. Finally, State of Wyoming grew its position in First Citizens BancShares by 11.0% in the 4th quarter. State of Wyoming now owns 131 shares of the bank’s stock worth $99,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 2,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $1,453.96, for a total value of $2,907,920.00. Following the completion of the sale, the director now directly owns 15,097 shares of the company’s stock, valued at approximately $21,950,434.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 2,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $1,453.96, for a total value of $2,907,920.00. Following the completion of the sale, the director now directly owns 15,097 shares of the company’s stock, valued at approximately $21,950,434.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ellen R. Alemany sold 2,280 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $1,450.38, for a total transaction of $3,306,866.40. Following the transaction, the director now directly owns 12,097 shares of the company’s stock, valued at $17,545,246.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,000 shares of company stock worth $7,260,162. 13.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FCNCA shares. Raymond James started coverage on shares of First Citizens BancShares in a research report on Tuesday, November 28th. They issued a “market perform” rating for the company. DA Davidson reiterated a “neutral” rating on shares of First Citizens BancShares in a report on Monday, January 15th. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. UBS Group increased their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and a consensus target price of $1,620.67.

Get Our Latest Stock Analysis on FCNCA

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,494.81 on Monday. The company’s fifty day moving average is $1,438.45 and its 200-day moving average is $1,407.24. First Citizens BancShares, Inc. has a 12 month low of $505.84 and a 12 month high of $1,552.00. The firm has a market cap of $21.70 billion, a price-to-earnings ratio of 1.91 and a beta of 0.89. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.91.

First Citizens BancShares Announces Dividend

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

About First Citizens BancShares

(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.

Featured Stories

Want to see what other hedge funds are holding FCNCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report).

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

Receive News & Ratings for First Citizens BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Citizens BancShares and related companies with MarketBeat.com's FREE daily email newsletter.