Cambridge Investment Research Advisors Inc. Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 299 shares of the bank’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCNCA. Transcend Capital Advisors LLC acquired a new stake in shares of First Citizens BancShares in the 3rd quarter worth $234,000. Washington Trust Advisors Inc. lifted its stake in shares of First Citizens BancShares by 875.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 39 shares of the bank’s stock worth $31,000 after acquiring an additional 35 shares during the period. 44 Wealth Management LLC acquired a new stake in shares of First Citizens BancShares in the 3rd quarter worth $690,000. Symmetry Partners LLC lifted its stake in shares of First Citizens BancShares by 35.5% in the 3rd quarter. Symmetry Partners LLC now owns 420 shares of the bank’s stock worth $335,000 after acquiring an additional 110 shares during the period. Finally, Amundi lifted its stake in shares of First Citizens BancShares by 55.4% in the 2nd quarter. Amundi now owns 4,730 shares of the bank’s stock worth $3,109,000 after acquiring an additional 1,687 shares during the period. 66.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. DA Davidson cut shares of First Citizens BancShares from a “buy” rating to a “neutral” rating and set a $950.00 price objective for the company. in a research note on Thursday, October 6th. StockNews.com assumed coverage on shares of First Citizens BancShares in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Insiders Place Their Bets

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

First Citizens BancShares Stock Up 1.3 %

Shares of NASDAQ FCNCA opened at $830.00 on Friday. 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, Inc. has a 52 week low of $598.01 and a 52 week high of $914.72. The firm has a 50-day moving average price of $785.06 and a 200 day moving average price of $789.89. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 13.20 and a beta of 0.95.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last announced its earnings results on Thursday, October 27th. The bank reported $20.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 79.36 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 0.36%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.47. First Citizens BancShares’s payout ratio is presently 4.77%.

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.