Stone Ridge Asset Management LLC raised its holdings in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,412 shares of the bank’s stock after acquiring an additional 82 shares during the period. Stone Ridge Asset Management LLC’s holdings in First Citizens BancShares were worth $1,664,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its holdings in First Citizens BancShares by 2.2% in the third quarter. FMR LLC now owns 1,244,637 shares of the bank’s stock valued at $562,925,000 after acquiring an additional 27,360 shares in the last quarter. BlackRock Inc. lifted its position in First Citizens BancShares by 1.9% during the fourth quarter. BlackRock Inc. now owns 369,036 shares of the bank’s stock valued at $139,145,000 after buying an additional 6,880 shares during the period. Rehmann Capital Advisory Group lifted its position in First Citizens BancShares by 37,374.6% during the third quarter. Rehmann Capital Advisory Group now owns 327,903 shares of the bank’s stock valued at $725,000 after buying an additional 327,028 shares during the period. Great West Life Assurance Co. Can lifted its position in First Citizens BancShares by 2.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 152,876 shares of the bank’s stock valued at $55,754,000 after buying an additional 3,483 shares during the period. Finally, Geode Capital Management LLC lifted its position in First Citizens BancShares by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 92,838 shares of the bank’s stock valued at $35,004,000 after buying an additional 4,602 shares during the period. Institutional investors and hedge funds own 45.95% of the company’s stock.
In other First Citizens BancShares news, CFO Craig L. Nix acquired 84 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, February 6th. The stock was bought at an average cost of $419.86 per share, for a total transaction of $35,268.24. Following the acquisition, the chief financial officer now owns 243 shares of the company’s stock, valued at $102,025.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.20% of the stock is owned by insiders.
Separately, BidaskClub lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday, November 30th.
Shares of FCNCA traded up $0.61 during trading hours on Wednesday, hitting $420.66. The company had a trading volume of 4,914 shares, compared to its average volume of 37,238. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $4.97 billion, a PE ratio of 12.85 and a beta of 1.20. First Citizens BancShares Inc. has a 52-week low of $355.18 and a 52-week high of $488.44.
First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Wednesday, January 30th. The bank reported $7.62 earnings per share (EPS) for the quarter. The firm had revenue of $402.89 million during the quarter. First Citizens BancShares had a return on equity of 11.60% and a net margin of 23.88%.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, March 15th.
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First Citizens BancShares Profile
First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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