First Trust Advisors LP Increases Stake in First Citizens BancShares Inc. (FCNCA)

First Trust Advisors LP increased its holdings in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 97.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,843 shares of the bank’s stock after purchasing an additional 19,186 shares during the period. First Trust Advisors LP owned approximately 0.32% of First Citizens BancShares worth $17,568,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $118,000. Bank of Montreal Can purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $208,000. Verition Fund Management LLC purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $213,000. Meeder Asset Management Inc. boosted its position in First Citizens BancShares by 867.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 619 shares of the bank’s stock valued at $250,000 after buying an additional 555 shares during the period. Finally, Triangle Securities Wealth Management purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $258,000. 45.10% of the stock is owned by institutional investors.

Shares of FCNCA opened at $436.94 on Friday. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 13.52 and a beta of 1.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.84 and a quick ratio of 0.84. First Citizens BancShares Inc. has a twelve month low of $387.22 and a twelve month high of $488.44.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.37%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, December 14th.

Separately, BidaskClub raised shares of First Citizens BancShares from a “hold” rating to a “buy” rating in a research report on Friday, August 17th.

In related news, CFO Craig L. Nix bought 99 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average cost of $426.76 per share, with a total value of $42,249.24. Following the transaction, the chief financial officer now owns 95 shares in the company, valued at approximately $40,542.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig L. Nix bought 60 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was bought at an average cost of $471.75 per share, with a total value of $28,305.00. Following the completion of the transaction, the chief financial officer now owns 60 shares in the company, valued at approximately $28,305. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 234 shares of company stock valued at $101,663. Corporate insiders own 19.20% of the company’s stock.

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First Citizens BancShares Company 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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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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