First Citizens BancShares Inc. (NASDAQ:FCNCA) CFO Craig L. Nix acquired 99 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, October 31st. The shares were purchased at an average cost of $426.76 per share, for a total transaction of $42,249.24. Following the purchase, the chief financial officer now directly owns 95 shares of the company’s stock, valued at approximately $40,542.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
NASDAQ FCNCA traded up $1.03 during trading hours on Thursday, reaching $427.66. 246 shares of the company traded hands, compared to its average volume of 28,490. First Citizens BancShares Inc. has a 12 month low of $387.22 and a 12 month high of $488.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.88 and a beta of 1.13.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be given a $0.40 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, December 14th.
Several hedge funds have recently added to or reduced their stakes in FCNCA. Principal Financial Group Inc. grew its stake in shares of First Citizens BancShares by 42.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,127 shares of the bank’s stock worth $466,000 after purchasing an additional 336 shares during the last quarter. UBS Group AG boosted its holdings in shares of First Citizens BancShares by 16.0% during the first quarter. UBS Group AG now owns 2,273 shares of the bank’s stock worth $939,000 after purchasing an additional 314 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of First Citizens BancShares during the first quarter worth approximately $453,000. Xact Kapitalforvaltning AB boosted its holdings in shares of First Citizens BancShares by 58.3% during the first quarter. Xact Kapitalforvaltning AB now owns 1,086 shares of the bank’s stock worth $449,000 after purchasing an additional 400 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in shares of First Citizens BancShares by 11.4% during the first quarter. Suntrust Banks Inc. now owns 2,849 shares of the bank’s stock worth $1,177,000 after purchasing an additional 292 shares during the period. 45.29% of the stock is currently owned by institutional investors and hedge funds.
About First Citizens BancShares
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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