Acadian Asset Management LLC Decreases Stake in First Citizens BancShares Inc. (FCNCA)

Acadian Asset Management LLC reduced its holdings in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,631 shares of the bank’s stock after selling 1,247 shares during the quarter. Acadian Asset Management LLC’s holdings in First Citizens BancShares were worth $5,896,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FCNCA. Legal & General Group Plc grew its stake in shares of First Citizens BancShares by 10.8% in the second quarter. Legal & General Group Plc now owns 2,685 shares of the bank’s stock valued at $1,003,000 after buying an additional 261 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of First Citizens BancShares by 8.6% in the second quarter. Alliancebernstein L.P. now owns 17,770 shares of the bank’s stock valued at $6,623,000 after buying an additional 1,400 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of First Citizens BancShares by 0.5% in the second quarter. Teachers Advisors LLC now owns 14,223 shares of the bank’s stock valued at $5,301,000 after buying an additional 67 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of First Citizens BancShares by 22.1% in the second quarter. Ameriprise Financial Inc. now owns 44,522 shares of the bank’s stock valued at $16,594,000 after buying an additional 8,055 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of First Citizens BancShares by 3.3% in the second quarter. Nationwide Fund Advisors now owns 7,375 shares of the bank’s stock valued at $2,749,000 after buying an additional 233 shares in the last quarter. 44.84% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Inc. (NASDAQ:FCNCA) opened at $437.47 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. First Citizens BancShares Inc. has a 52-week low of $319.40 and a 52-week high of $459.27. The company has a market cap of $5,403.42, a price-to-earnings ratio of 16.32 and a beta of 1.15.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $5.58 EPS for the quarter. First Citizens BancShares had a net margin of 20.60% and a return on equity of 10.17%. The firm had revenue of $398.56 million during the quarter.

First Citizens BancShares declared that its board has approved a share buyback 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 usually an indication that the company’s board of directors believes its stock is undervalued.

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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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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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