IFP Advisors Inc Sells 62 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

IFP Advisors Inc cut its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178 shares of the bank’s stock after selling 62 shares during the quarter. IFP Advisors Inc’s holdings in First Citizens BancShares were worth $81,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in First Citizens BancShares by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,168,400 shares of the bank’s stock valued at $931,716,000 after purchasing an additional 8,455 shares during the period. Wellington Management Group LLP lifted its holdings in First Citizens BancShares by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 594,276 shares of the bank’s stock worth $395,550,000 after purchasing an additional 140,410 shares in the last quarter. State Street Corp lifted its holdings in First Citizens BancShares by 53.7% during the 1st quarter. State Street Corp now owns 402,593 shares of the bank’s stock worth $267,966,000 after purchasing an additional 140,626 shares in the last quarter. Invesco Ltd. lifted its holdings in First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock worth $246,949,000 after purchasing an additional 196,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of First Citizens BancShares by 88.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank’s stock valued at $179,001,000 after acquiring an additional 126,483 shares in the last quarter. 66.53% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,265.96 on Tuesday. The business has a fifty day moving average of $899.91 and a 200 day moving average of $821.96. First Citizens BancShares, Inc. has a one year low of $505.84 and a one year high of $1,284.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $18.37 billion, a P/E ratio of 1.80 and a beta of 0.99.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given 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 dividend yield of 0.24%. First Citizens BancShares’s dividend payout ratio is currently 0.43%.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 70 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were bought at an average price of $710.04 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Citizens BancShares news, CFO Craig L. Nix acquired 70 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was purchased at an average price of $710.04 per share, for a total transaction of $49,702.80. Following the acquisition, the chief financial officer now owns 1,046 shares in the company, valued at approximately $742,701.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. bought 165 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average price of $650.00 per share, with a total value of $107,250.00. Following the purchase, the chief executive officer now directly owns 93,632 shares in the company, valued at $60,860,800. The disclosure for this purchase can be found here. Insiders have purchased a total of 563 shares of company stock worth $373,838 over the last ninety days. Company insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research reports. UBS Group raised First Citizens BancShares from a “sell” rating to a “buy” rating and raised their price objective for the company from $538.00 to $1,206.00 in a report on Wednesday, April 5th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Finally, DA Davidson raised their target price on First Citizens BancShares from $825.00 to $1,025.00 and gave the company a “neutral” rating in a research note on Tuesday, March 28th.

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.