199 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 199 shares of the bank’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock worth $32,000 after acquiring an additional 6 shares during the last quarter. SVB Wealth LLC bought a new position in shares of First Citizens BancShares in the first quarter worth about $35,000. Community Bank N.A. acquired a new stake in First Citizens BancShares in the first quarter valued at approximately $44,000. Wayfinding Financial LLC acquired a new stake in First Citizens BancShares in the first quarter valued at approximately $64,000. Finally, Brooklyn Investment Group boosted its position in First Citizens BancShares by 32.1% in the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after buying an additional 9 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 600 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $1,698.75 per share, for a total transaction of $1,019,250.00. Following the completion of the acquisition, the chief executive officer directly owned 32,300 shares in the company, valued at approximately $54,869,625. This represents a 1.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hope Holding Bryant bought 409 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the acquisition, the insider owned 1,764 shares of the company’s stock, valued at $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,494 shares of company stock worth $2,485,986 over the last quarter. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,964.43 on Friday. The firm has a market cap of $25.38 billion, a PE ratio of 11.59 and a beta of 0.71. The firm’s fifty day moving average is $1,996.27 and its 200-day moving average is $1,889.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.21 billion. Sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FCNCA shares. Jefferies Financial Group started coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 target price on the stock. UBS Group restated a “buy” rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a research report on Wednesday, July 9th. Citigroup raised their target price on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Cowen restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,291.17.

About First Citizens BancShares

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.