First Citizens BancShares Inc. (FCNCA) Stake Lowered by Brown Advisory Inc.
Brown Advisory Inc. cut its stake in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,581 shares of the bank’s stock after selling 1,572 shares during the quarter. Brown Advisory Inc.’s holdings in First Citizens BancShares were worth $14,547,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Rehmann Capital Advisory Group increased its stake in First Citizens BancShares by 37,374.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 327,903 shares of the bank’s stock worth $725,000 after purchasing an additional 327,028 shares in the last quarter. Martingale Asset Management L P increased its stake in First Citizens BancShares by 184.5% during the 3rd quarter. Martingale Asset Management L P now owns 80,840 shares of the bank’s stock worth $36,564,000 after purchasing an additional 52,424 shares in the last quarter. Marshall Wace LLP bought a new stake in First Citizens BancShares during the 3rd quarter worth approximately $15,781,000. FMR LLC increased its stake in First Citizens BancShares by 2.2% during the 3rd quarter. FMR LLC now owns 1,244,637 shares of the bank’s stock worth $562,925,000 after purchasing an additional 27,360 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in First Citizens BancShares by 76.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 59,879 shares of the bank’s stock worth $27,082,000 after purchasing an additional 25,925 shares in the last quarter. 44.85% of the stock is owned by institutional investors.
Separately, BidaskClub cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Wednesday, January 30th. The bank reported $7.62 earnings per share for the quarter. First Citizens BancShares had a return on equity of 11.60% and a net margin of 23.88%. The firm had revenue of $402.89 million during the quarter.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Friday, March 15th.
In other news, CFO Craig L. Nix purchased 84 shares of First Citizens BancShares stock in a transaction on Wednesday, February 6th. The stock was purchased at an average price of $419.86 per share, with a total value of $35,268.24. Following the transaction, the chief financial officer now directly owns 243 shares in the company, valued at approximately $102,025.98. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 19.20% of the company’s stock.
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First Citizens BancShares Profile
First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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