Royce & Associates LP cut its stake in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,751 shares of the bank’s stock after selling 10,759 shares during the quarter. Royce & Associates LP’s holdings in First Citizens BancShares were worth $62,768,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of FCNCA. BlackRock Inc. lifted its holdings in First Citizens BancShares by 0.9% in the fourth quarter. BlackRock Inc. now owns 509,636 shares of the bank’s stock valued at $205,382,000 after acquiring an additional 4,740 shares during the period. Wells Fargo & Company MN lifted its holdings in First Citizens BancShares by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 219,883 shares of the bank’s stock valued at $88,612,000 after acquiring an additional 5,518 shares during the period. Great West Life Assurance Co. Can lifted its holdings in First Citizens BancShares by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 180,928 shares of the bank’s stock valued at $66,779,000 after acquiring an additional 2,818 shares during the period. State Street Corp lifted its holdings in First Citizens BancShares by 5.0% in the second quarter. State Street Corp now owns 155,276 shares of the bank’s stock valued at $57,875,000 after acquiring an additional 7,414 shares during the period. Finally, Boston Partners lifted its holdings in First Citizens BancShares by 3.4% in the third quarter. Boston Partners now owns 89,929 shares of the bank’s stock valued at $33,624,000 after acquiring an additional 2,994 shares during the period. 44.85% of the stock is owned by hedge funds and other institutional investors.
First Citizens BancShares Inc. (NASDAQ:FCNCA) opened at $436.80 on Friday. The stock has a market capitalization of $5,245.97, a price-to-earnings ratio of 16.21 and a beta of 1.13. 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 Inc. has a one year low of $319.40 and a one year high of $459.27.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, March 16th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.19%.
First Citizens BancShares declared that its board has initiated a stock repurchase program on Wednesday, October 25th that permits the company to buyback 800,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.com-unik.info/2018/02/18/royce-associates-lp-sells-10759-shares-of-first-citizens-bancshares-inc-fcnca.html.
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.
Want to see what other hedge funds are holding FCNCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Citizens BancShares Inc. (NASDAQ:FCNCA).
Receive News & Ratings for First Citizens BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Citizens BancShares and related companies with MarketBeat.com's FREE daily email newsletter.