First Citizens Bank & Trust Co. Has $4.24 Million Holdings in First Citizens BancShares Inc. (FCNCA)
First Citizens Bank & Trust Co. raised its position in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 66.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,509 shares of the bank’s stock after acquiring an additional 4,184 shares during the period. First Citizens Bank & Trust Co.’s holdings in First Citizens BancShares were worth $4,235,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of FCNCA. Captrust Financial Advisors acquired a new position in First Citizens BancShares during the 2nd quarter valued at about $104,000. 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 worth $385,000 after acquiring an additional 734 shares during the period. Principal Financial Group Inc. lifted its stake in shares of First Citizens BancShares by 27.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,171 shares of the bank’s stock worth $438,000 after acquiring an additional 249 shares during the period. Pacer Advisors Inc. lifted its stake in shares of First Citizens BancShares by 28.5% in the 3rd quarter. Pacer Advisors Inc. now owns 1,447 shares of the bank’s stock worth $541,000 after acquiring an additional 321 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of First Citizens BancShares in the 3rd quarter worth approximately $747,000. 44.84% of the stock is owned by hedge funds and other institutional investors.
Shares of First Citizens BancShares Inc. (FCNCA) traded up $3.83 during trading hours on Wednesday, hitting $425.22. 28,800 shares of the stock were exchanged, compared to its average volume of 26,167. The firm has a market cap of $5,054.17, a price-to-earnings ratio of 15.86 and a beta of 1.15. First Citizens BancShares Inc. has a 12 month low of $319.40 and a 12 month high of $436.00. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th were paid a $0.35 dividend. 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 dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, December 15th. First Citizens BancShares’s dividend payout ratio is currently 5.22%.
First Citizens BancShares announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase 800,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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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