State of Wisconsin Investment Board acquired a new stake in First Citizens BancShares Inc. Class A (NASDAQ:FCNCA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,547 shares of the bank’s stock, valued at approximately $624,000.
A number of other hedge funds have also made changes to their positions in FCNCA. Public Employees Retirement Association of Colorado bought a new position in First Citizens BancShares Inc. Class A in the second quarter valued at approximately $118,000. Bank of Montreal Can bought a new position in shares of First Citizens BancShares Inc. Class A during the second quarter worth $208,000. Meeder Asset Management Inc. boosted its position in shares of First Citizens BancShares Inc. Class A by 867.2% during the second quarter. Meeder Asset Management Inc. now owns 619 shares of the bank’s stock worth $250,000 after purchasing an additional 555 shares in the last quarter. First Republic Investment Management Inc. bought a new position in shares of First Citizens BancShares Inc. Class A during the first quarter worth $258,000. Finally, Triangle Securities Wealth Management bought a new position in shares of First Citizens BancShares Inc. Class A during the second quarter worth $258,000. 44.84% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub cut shares of First Citizens BancShares Inc. Class A from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th.
In related news, CFO Craig L. Nix acquired 60 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average cost of $471.75 per share, with a total value of $28,305.00. Following the transaction, the chief financial officer now owns 60 shares of the company’s stock, valued at approximately $28,305. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.20% of the company’s stock.
Shares of NASDAQ FCNCA opened at $463.34 on Friday. The firm has a market cap of $5.61 billion, a PE ratio of 16.46 and a beta of 1.11. First Citizens BancShares Inc. Class A has a twelve month low of $334.52 and a twelve month high of $488.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.07.
First Citizens BancShares Inc. Class A (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $7.77 EPS for the quarter. The business had revenue of $397.15 million for the quarter. First Citizens BancShares Inc. Class A had a net margin of 18.68% and a return on equity of 10.12%.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $1.40 annualized dividend and a yield of 0.30%.
First Citizens BancShares Inc. Class A 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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