Raymond James Financial Services Advisors Inc. Has $2 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Raymond James Financial Services Advisors Inc. grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 145.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,406 shares of the bank's stock after acquiring an additional 833 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in First Citizens BancShares were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in First Citizens BancShares by 106.0% in the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank's stock worth $735,855,000 after acquiring an additional 568,929 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Citizens BancShares by 30.9% in the 1st quarter. Wellington Management Group LLP now owns 594,276 shares of the bank's stock worth $395,550,000 after purchasing an additional 140,410 shares during the last quarter. State Street Corp boosted its position in First Citizens BancShares by 53.7% during the 1st quarter. State Street Corp now owns 402,593 shares of the bank's stock valued at $267,966,000 after purchasing an additional 140,626 shares during the period. Invesco Ltd. boosted its position in First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank's stock valued at $246,949,000 after purchasing an additional 196,851 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in First Citizens BancShares by 88.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank's stock worth $179,001,000 after buying an additional 126,483 shares during the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 622 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company's stock, valued at $128,355,835. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 622 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company's stock, valued at approximately $128,355,835. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Alemany sold 600 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company's stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock valued at $1,825,220. Corporate insiders own 12.85% of the company's stock.

First Citizens BancShares Trading Down 0.4 %

Shares of First Citizens BancShares stock traded down $6.61 during trading on Thursday, hitting $1,601.00. The stock had a trading volume of 74,673 shares, compared to its average volume of 82,401. The stock has a 50 day simple moving average of $1,558.07 and a 200 day simple moving average of $1,460.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares, Inc. has a 1 year low of $945.32 and a 1 year high of $1,651.73. The company has a market capitalization of $23.25 billion, a PE ratio of 2.04 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, research analysts expect that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares's dividend payout ratio is 0.84%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays initiated coverage on shares of First Citizens BancShares in a research note on Thursday. They set an "equal weight" rating and a $1,850.00 target price for the company. UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a "buy" rating in a report on Tuesday, January 30th. DA Davidson reaffirmed a "neutral" rating on shares of First Citizens BancShares in a research note on Monday, January 15th. Wedbush reissued an "outperform" rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $1,785.57.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.