TrimTabs Asset Management LLC grew its holdings in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790 shares of the bank’s stock after purchasing an additional 133 shares during the quarter. TrimTabs Asset Management LLC’s holdings in First Citizens BancShares were worth $1,136,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at approximately $38,000. Quad Cities Investment Group LLC raised its position in shares of First Citizens BancShares by 50.0% during the 4th quarter. Quad Cities Investment Group LLC now owns 150 shares of the bank’s stock valued at $57,000 after buying an additional 50 shares during the period. Parallel Advisors LLC raised its position in shares of First Citizens BancShares by 958.8% during the 4th quarter. Parallel Advisors LLC now owns 180 shares of the bank’s stock valued at $67,000 after buying an additional 163 shares during the period. Meeder Asset Management Inc. raised its position in shares of First Citizens BancShares by 40.3% during the 4th quarter. Meeder Asset Management Inc. now owns 247 shares of the bank’s stock valued at $93,000 after buying an additional 71 shares during the period. Finally, Bruderman Asset Management LLC purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at approximately $151,000. 46.72% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Craig L. Nix bought 84 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were purchased at an average cost of $419.86 per share, for a total transaction of $35,268.24. Following the acquisition, the chief financial officer now owns 243 shares of the company’s stock, valued at approximately $102,025.98. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders purchased a total of 149 shares of company stock worth $59,139 over the last quarter. 16.20% of the stock is currently owned by corporate insiders.
Separately, BidaskClub lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.
NASDAQ FCNCA traded down $0.60 on Wednesday, reaching $441.40. The stock had a trading volume of 3,312 shares, compared to its average volume of 35,237. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. First Citizens BancShares Inc. has a 12-month low of $355.18 and a 12-month high of $488.44. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 12.84 and a beta of 1.18.
First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Wednesday, January 30th. The bank reported $7.62 earnings per share (EPS) for the quarter. First Citizens BancShares had a net margin of 23.88% and a return on equity of 11.60%. The company had revenue of $402.89 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.36%.
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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.
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