Sheets Smith Wealth Management decreased its position in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,813 shares of the bank’s stock after selling 60 shares during the period. Sheets Smith Wealth Management’s holdings in First Citizens BancShares were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of FCNCA. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Citizens BancShares by 99.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 379 shares of the bank’s stock worth $171,000 after buying an additional 189 shares during the last quarter. Commonwealth Bank of Australia acquired a new stake in shares of First Citizens BancShares in the third quarter worth $180,000. WINTON GROUP Ltd acquired a new stake in shares of First Citizens BancShares in the third quarter worth $232,000. GAM Holding AG acquired a new stake in shares of First Citizens BancShares in the third quarter worth $232,000. Finally, Verition Fund Management LLC acquired a new stake in shares of First Citizens BancShares in the second quarter worth $213,000. 46.73% of the stock is owned by institutional investors.
Separately, BidaskClub lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th.
NASDAQ:FCNCA opened at $398.62 on Friday. The firm has a market capitalization of $4.71 billion, a PE ratio of 12.24 and a beta of 1.16. First Citizens BancShares Inc. has a 1-year low of $355.18 and a 1-year high of $488.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.09.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Wednesday, October 24th. The bank reported $9.80 earnings per share for the quarter. The firm had revenue of $401.89 million for the quarter. First Citizens BancShares had a net margin of 21.65% and a return on equity of 11.46%.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 7th. Stockholders of record on Monday, December 17th were paid a $0.40 dividend. The ex-dividend date was Friday, December 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.40%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $0.35.
In related news, major shareholder Olivia Britton Holding sold 7,969 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $427.50, for a total transaction of $3,406,747.50. Following the sale, the insider now owns 424,127 shares in the company, valued at $181,314,292.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Hope Holding Bryant sold 2,000 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $436.50, for a total transaction of $873,000.00. Following the sale, the insider now owns 347,791 shares in the company, valued at approximately $151,810,771.50. The disclosure for this sale can be found here. In the last quarter, insiders bought 299 shares of company stock worth $121,158 and sold 15,161 shares worth $6,522,257. 19.20% of the stock is owned by corporate insiders.
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.
See Also: SEC Filing
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