Bessemer Group Inc. reduced its position in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the bank’s stock after selling 300 shares during the quarter. Bessemer Group Inc.’s holdings in First Citizens BancShares were worth $1,659,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in First Citizens BancShares by 13.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 1,693 shares of the bank’s stock valued at $766,000 after buying an additional 200 shares in the last quarter. Victory Capital Management Inc. boosted its position in First Citizens BancShares by 27.0% in the third quarter. Victory Capital Management Inc. now owns 8,273 shares of the bank’s stock valued at $3,742,000 after buying an additional 1,758 shares in the last quarter. Wells Fargo & Company MN boosted its position in First Citizens BancShares by 2.6% in the third quarter. Wells Fargo & Company MN now owns 223,571 shares of the bank’s stock valued at $101,118,000 after buying an additional 5,618 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in First Citizens BancShares in the third quarter valued at approximately $232,000. Finally, Stone Ridge Asset Management LLC boosted its position in First Citizens BancShares by 4.2% in the third quarter. Stone Ridge Asset Management LLC now owns 4,330 shares of the bank’s stock valued at $1,958,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 46.50% of the company’s stock.
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Separately, BidaskClub lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday, November 30th.
Shares of First Citizens BancShares stock opened at $424.48 on Wednesday. First Citizens BancShares Inc. has a fifty-two week low of $355.18 and a fifty-two week high of $488.44. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.10 and a beta of 1.16.
First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Wednesday, January 30th. The bank reported $7.62 EPS for the quarter. The company had revenue of $402.89 million for the quarter. First Citizens BancShares had a net margin of 23.88% and a return on equity of 11.60%.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.38%.
In other First Citizens BancShares news, CFO Craig L. Nix purchased 84 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were bought at an average price of $419.86 per share, for a total transaction of $35,268.24. Following the completion of the acquisition, the chief financial officer now owns 243 shares in the company, valued at $102,025.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by insiders.
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First Citizens BancShares 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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