First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 39.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,177 shares of the bank’s stock after buying an additional 331 shares during the quarter. LPL Financial LLC’s holdings in First Citizens BancShares were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Strs Ohio increased its holdings in First Citizens BancShares by 36.0% in the first quarter. Strs Ohio now owns 3,137 shares of the bank’s stock valued at $3,052,000 after buying an additional 830 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of First Citizens BancShares by 199.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,362 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 907 shares in the last quarter. Aviva PLC lifted its stake in First Citizens BancShares by 156.1% during the first quarter. Aviva PLC now owns 1,772 shares of the bank’s stock worth $1,724,000 after purchasing an additional 1,080 shares during the last quarter. Greenlight Capital Inc. bought a new position in First Citizens BancShares during the first quarter worth $21,943,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in First Citizens BancShares by 21.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,827 shares of the bank’s stock worth $10,536,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $1,427.23 on Wednesday. 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 business’s 50 day moving average is $1,362.27 and its 200-day moving average is $1,326.07. The stock has a market cap of $20.72 billion, a PE ratio of 1.86 and a beta of 0.95. First Citizens BancShares, Inc. has a twelve month low of $505.84 and a twelve month high of $1,512.07.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $0.75. First Citizens BancShares’s payout ratio is 0.39%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 110 shares of the stock in a transaction on Tuesday, September 19th. The shares were purchased at an average price of $1,150.00 per share, with a total value of $126,500.00. Following the purchase, the chief executive officer now owns 97,442 shares in the company, valued at $112,058,300. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of recent research reports. UBS Group raised their price target on shares of First Citizens BancShares from $1,490.00 to $1,780.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Citigroup started coverage on shares of First Citizens BancShares in a report on Friday, September 29th. They issued a “neutral” rating and a $1,520.00 target price on the stock. StockNews.com began coverage on First Citizens BancShares in a report on Thursday, October 5th. They set a “hold” rating for the company. Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research report on Friday, November 3rd. Finally, JPMorgan Chase & Co. initiated coverage on First Citizens BancShares in a research report on Wednesday, September 20th. They set an “overweight” rating and a $1,850.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,625.00.

View Our Latest Stock Analysis on FCNCA

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.

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.