NFJ Investment Group LLC lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,741 shares of the bank’s stock after selling 975 shares during the period. NFJ Investment Group LLC’s holdings in First Citizens BancShares were worth $3,115,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of FCNCA. Ensign Peak Advisors Inc acquired a new position in shares of First Citizens BancShares in the first quarter valued at approximately $42,000. First Bank & Trust increased its position in First Citizens BancShares by 60.6% during the second quarter. First Bank & Trust now owns 53 shares of the bank’s stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in First Citizens BancShares during the first quarter worth approximately $51,000. Van ECK Associates Corp acquired a new position in First Citizens BancShares during the second quarter worth approximately $69,000. Finally, SG Americas Securities LLC acquired a new position in First Citizens BancShares during the first quarter worth approximately $128,000. 51.39% of the stock is owned by institutional investors and hedge funds.
Separately, Janney Montgomery Scott began coverage on shares of First Citizens BancShares in a research report on Friday, August 27th. They set a “buy” rating and a $1,075.00 price target for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $983.33.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Monday, August 2nd. The bank reported $15.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.95 by $2.14. First Citizens BancShares had a net margin of 28.77% and a return on equity of 14.52%. The company had revenue of $480.54 million during the quarter. Research analysts anticipate that First Citizens BancShares, Inc. will post 39.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, July 30th were paid a dividend of $0.47 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $0.30. This represents a $1.88 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, July 29th. First Citizens BancShares’s payout ratio is currently 3.96%.
First Citizens BancShares Company Profile
First Citizens BancShares, Inc is a bank holding company, which engages in the provision of retail and commercial banking services through its subsidiary. It operates through the following business lines: Card Holder and Merchant Services, Services Charges on Deposit Accounts, Wealth Management Services, Other Service Charges and Fees, Insurance Commissions, ATM Income, and Other.
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