Northwestern Mutual Wealth Management Co. grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Free Report) by 117,518.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,833 shares of the bank’s stock after purchasing an additional 205,658 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Citizens BancShares were worth $441,755,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in FCNCA. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the third quarter valued at about $27,000. UMB Bank n.a. raised its holdings in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after purchasing an additional 8 shares during the period. Root Financial Partners LLC acquired a new position in shares of First Citizens BancShares during the third quarter valued at about $32,000. Harbor Investment Advisory LLC raised its holdings in shares of First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after purchasing an additional 9 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.
First Citizens BancShares Trading Down 0.5%
NASDAQ:FCNCA opened at $1,928.39 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.03 and a current ratio of 1.00. The firm has a market cap of $22.35 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The firm has a 50-day moving average price of $1,922.03 and a two-hundred day moving average price of $1,979.49.
First Citizens BancShares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.
Insider Activity
In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the completion of the sale, the chief executive officer owned 100,654 shares in the company, valued at $193,123,823.26. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have purchased 6,198 shares of company stock worth $10,661,547. Company insiders own 14.63% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their price target on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Barclays dropped their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings cut shares of First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2,202.08.
View Our Latest Report on First Citizens BancShares
First Citizens BancShares Company Profile
First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.
First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.
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