TIAA CREF Investment Management LLC reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,328 shares of the bank’s stock after selling 720 shares during the period. TIAA CREF Investment Management LLC owned about 0.17% of First Citizens BancShares worth $7,576,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group grew its position in shares of First Citizens BancShares by 2.9% in the 2nd quarter. Schroder Investment Management Group now owns 69,741 shares of the bank’s stock worth $26,111,000 after buying an additional 1,946 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of First Citizens BancShares by 15.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,225 shares of the bank’s stock worth $2,320,000 after buying an additional 849 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of First Citizens BancShares in the 2nd quarter worth approximately $214,000. Schwab Charles Investment Management Inc. grew its position in shares of First Citizens BancShares by 7.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 66,462 shares of the bank’s stock worth $24,771,000 after buying an additional 4,842 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of First Citizens BancShares by 34.7% in the 2nd quarter. Prudential Financial Inc. now owns 21,274 shares of the bank’s stock worth $7,929,000 after buying an additional 5,475 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

FCNCA has been the topic of a number of recent analyst reports. ValuEngine upgraded First Citizens BancShares from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. BidaskClub lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.

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Shares of First Citizens BancShares, Inc. (FCNCA) opened at 383.25 on Wednesday. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 15.02 and a beta of 1.10. First Citizens BancShares, Inc. has a 12 month low of $280.98 and a 12 month high of $395.15. The stock has a 50 day moving average price of $352.86 and a 200-day moving average price of $352.42.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 18th were issued a $0.30 dividend. The ex-dividend date was Friday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. First Citizens BancShares’s payout ratio is 4.70%.

In related news, Vice Chairman Hope Holding Bryant sold 2,500 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $340.00, for a total value of $850,000.00. Following the transaction, the insider now owns 272,572 shares of the company’s stock, valued at $92,674,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding sold 245 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $362.06, for a total value of $88,704.70. Following the completion of the transaction, the insider now directly owns 343,898 shares in the company, valued at approximately $124,511,709.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,500 shares of company stock worth $4,398,866. Company insiders own 19.38% of the company’s stock.

First Citizens BancShares Company 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.

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

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