State Board of Administration of Florida Retirement System Lowers Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

State Board of Administration of Florida Retirement System cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,325 shares of the bank’s stock after selling 1,670 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in First Citizens BancShares were worth $14,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCNCA. Vanguard Group Inc. grew its stake in shares of First Citizens BancShares by 106.0% during the 1st quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock valued at $735,855,000 after acquiring an additional 568,929 shares during the period. Invesco Ltd. grew its stake in shares of First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock valued at $246,949,000 after acquiring an additional 196,851 shares during the period. Sessa Capital IM L.P. bought a new position in shares of First Citizens BancShares during the 1st quarter valued at approximately $158,509,000. Imprint Wealth LLC bought a new position in shares of First Citizens BancShares during the 2nd quarter valued at approximately $15,016,000. Finally, State Street Corp lifted its holdings in First Citizens BancShares by 53.7% in the 1st quarter. State Street Corp now owns 402,593 shares of the bank’s stock worth $267,966,000 after purchasing an additional 140,626 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Insider Transactions at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 720 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $1,451.91, for a total transaction of $1,045,375.20. Following the sale, the director now owns 14,377 shares in the company, valued at approximately $20,874,110.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ellen R. Alemany sold 2,280 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $1,450.38, for a total transaction of $3,306,866.40. Following the sale, the director now owns 12,097 shares in the company, valued at approximately $17,545,246.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Alemany sold 720 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $1,451.91, for a total value of $1,045,375.20. Following the sale, the director now owns 14,377 shares in the company, valued at approximately $20,874,110.07. The disclosure for this sale can be found here. Insiders have sold 5,000 shares of company stock valued at $7,260,162 in the last ninety days. Corporate insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of research analyst reports. DA Davidson reissued a “neutral” rating on shares of First Citizens BancShares in a report on Monday, January 15th. UBS Group boosted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. Raymond James initiated coverage on First Citizens BancShares in a report on Tuesday, November 28th. They issued a “market perform” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1,620.67.

Read Our Latest Stock Analysis on FCNCA

First Citizens BancShares Stock Up 1.1 %

Shares of FCNCA opened at $1,494.81 on Monday. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 1.91 and a beta of 0.89. First Citizens BancShares, Inc. has a 1 year low of $505.84 and a 1 year high of $1,552.00. The business’s 50 day simple moving average is $1,438.45 and its 200-day simple moving average is $1,407.24. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.16 and a quick ratio of 1.16.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 29th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.44%. First Citizens BancShares’s dividend payout ratio (DPR) is 0.84%.

First Citizens BancShares 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.

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

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