First Citizens BancShares Inc. (NASDAQ:FCNCA) Chairman Frank B. Holding, Jr. purchased 6,293 shares of the stock in a transaction on Monday, June 17th. The stock was bought at an average price of $375.00 per share, for a total transaction of $2,359,875.00. Following the completion of the transaction, the chairman now directly owns 386,303 shares of the company’s stock, valued at $144,863,625. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NASDAQ FCNCA opened at $435.23 on Friday. The company has a market cap of $4.95 billion, a P/E ratio of 12.63 and a beta of 1.21. First Citizens BancShares Inc. has a one year low of $355.18 and a one year high of $488.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.84 and a current ratio of 0.85.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $9.67 EPS for the quarter. The business had revenue of $424.14 million for the quarter. First Citizens BancShares had a return on equity of 11.79% and a net margin of 24.62%.
Separately, BidaskClub raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th.
Several hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of First Citizens BancShares by 131.7% during the first quarter. Parallel Advisors LLC now owns 417 shares of the bank’s stock valued at $170,000 after purchasing an additional 237 shares during the last quarter. Parametrica Management Ltd boosted its position in First Citizens BancShares by 39.0% in the 1st quarter. Parametrica Management Ltd now owns 1,051 shares of the bank’s stock valued at $428,000 after buying an additional 295 shares during the last quarter. Boston Partners boosted its position in First Citizens BancShares by 2.8% in the 1st quarter. Boston Partners now owns 85,504 shares of the bank’s stock valued at $34,817,000 after buying an additional 2,349 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in First Citizens BancShares by 14.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 1,941 shares of the bank’s stock valued at $732,000 after buying an additional 248 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in First Citizens BancShares by 13.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 825 shares of the bank’s stock valued at $311,000 after buying an additional 100 shares during the last quarter. Institutional investors own 44.42% of the company’s stock.
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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