First Trust Advisors LP raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,543 shares of the bank’s stock after acquiring an additional 330 shares during the quarter. First Trust Advisors LP owned approximately 0.17% of First Citizens BancShares worth $7,681,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FCNCA. FMR LLC lifted its holdings in shares of First Citizens BancShares by 11.5% during the 2nd quarter. FMR LLC now owns 1,383,090 shares of the bank’s stock valued at $515,478,000 after purchasing an additional 142,265 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Citizens BancShares by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 555,580 shares of the bank’s stock valued at $207,065,000 after purchasing an additional 2,442 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Citizens BancShares by 7.4% during the 2nd quarter. Wells Fargo & Company MN now owns 209,753 shares of the bank’s stock valued at $78,174,000 after purchasing an additional 14,486 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of First Citizens BancShares by 2.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 178,110 shares of the bank’s stock valued at $66,185,000 after purchasing an additional 4,325 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of First Citizens BancShares by 5.0% during the 2nd quarter. State Street Corp now owns 155,276 shares of the bank’s stock valued at $57,875,000 after purchasing an additional 7,414 shares during the last quarter. 45.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman Hope Holding Bryant sold 2,255 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $339.85, for a total transaction of $766,361.75. Following the sale, the insider now directly owns 272,572 shares in the company, valued at approximately $92,633,594.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 7,255 shares of company stock worth $2,478,862 over the last 90 days. Insiders own 19.38% of the company’s stock.
First Citizens BancShares, Inc. (NASDAQ:FCNCA) opened at $388.00 on Monday. The firm has a market capitalization of $4,659.88, a PE ratio of 14.47 and a beta of 1.15. First Citizens BancShares, Inc. has a 52 week low of $313.14 and a 52 week high of $417.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.86.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $5.58 earnings per share for the quarter. The business had revenue of $398.56 million during the quarter. First Citizens BancShares had a return on equity of 10.17% and a net margin of 20.60%.
First Citizens BancShares declared that its board has authorized a share buyback program on Wednesday, October 25th that allows the company to repurchase 800,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 15th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.48%.
FCNCA has been the subject of several analyst reports. ValuEngine lowered First Citizens BancShares from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, July 31st.
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First Citizens BancShares Profile
First Citizens BancShares, Inc (BancShares) is a holding company of First-Citizens Bank & Trust Company (FCB). As of December 31, 2016, BancShares operated in 21 states providing a range of financial services to individuals, businesses and professionals. FCB offers a range of retail and commercial banking services.
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