Royce & Associates LP trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,510 shares of the bank’s stock after selling 2,933 shares during the quarter. Royce & Associates LP owned about 1.39% of First Citizens BancShares worth $62,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at about $104,000. Teacher Retirement System of Texas acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at about $214,000. BNP Paribas Arbitrage SA lifted its stake in shares of First Citizens BancShares by 244.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,034 shares of the bank’s stock valued at $385,000 after purchasing an additional 734 shares during the period. Pacer Advisors Inc. lifted its stake in shares of First Citizens BancShares by 17.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,126 shares of the bank’s stock valued at $420,000 after purchasing an additional 166 shares during the period. Finally, Principal Financial Group Inc. raised its stake in First Citizens BancShares by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,171 shares of the bank’s stock worth $438,000 after buying an additional 249 shares during the period. 44.83% of the stock is currently owned by institutional investors.
First Citizens BancShares, Inc. (NASDAQ:FCNCA) opened at $413.46 on Thursday. First Citizens BancShares, Inc. has a 52 week low of $319.40 and a 52 week high of $436.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $4,945.00, a P/E ratio of 15.36 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be issued a dividend of $0.35 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, December 15th. First Citizens BancShares’s payout ratio is currently 4.48%.
First Citizens BancShares announced that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback 800,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of research firms recently weighed in on FCNCA. BidaskClub downgraded First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine downgraded First Citizens BancShares from a “buy” rating to a “hold” rating in a research note on Friday, August 18th.
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About First Citizens BancShares
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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