UBS Asset Management Americas Inc. Has $1.53 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

UBS Asset Management Americas Inc. grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 27.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,097 shares of the bank’s stock after buying an additional 889 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in First Citizens BancShares were worth $1,527,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth $104,000. Teacher Retirement System of Texas purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth $214,000. BNP Paribas Arbitrage SA lifted its stake in shares of First Citizens BancShares by 244.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,034 shares of the bank’s stock worth $385,000 after purchasing an additional 734 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of First Citizens BancShares by 17.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,126 shares of the bank’s stock worth $420,000 after purchasing an additional 166 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. lifted its stake in shares of First Citizens BancShares by 69.2% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,650 shares of the bank’s stock worth $615,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 44.90% of the company’s stock.

In related news, Vice Chairman Hope Holding Bryant sold 2,500 shares of First Citizens BancShares stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $345.00, for a total value of $862,500.00. Following the completion of the sale, the insider now owns 272,572 shares of the company’s stock, valued at approximately $94,037,340. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding sold 5,000 shares of First Citizens BancShares stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $366.26, for a total transaction of $1,831,300.00. Following the completion of the sale, the insider now directly owns 343,898 shares of the company’s stock, valued at approximately $125,956,081.48. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock valued at $4,398,866 in the last three months. Company insiders own 19.38% of the company’s stock.

Several brokerages recently issued reports on FCNCA. BidaskClub lowered First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine lowered First Citizens BancShares from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.

First Citizens BancShares, Inc. (NASDAQ FCNCA) opened at 414.60 on Friday. The company’s 50-day moving average price is $365.85 and its 200 day moving average price is $356.56. First Citizens BancShares, Inc. has a 12 month low of $280.98 and a 12 month high of $417.98. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 16.25 and a beta of 1.10.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Wednesday, October 25th. The bank reported $5.58 earnings per share (EPS) for the quarter. The company had revenue of $398.56 million during the quarter. First Citizens BancShares had a net margin of 20.60% and a return on equity of 10.33%. Analysts predict that First Citizens BancShares, Inc. will post $10.61 EPS for the current year.

First Citizens BancShares announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase 800,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $0.30. First Citizens BancShares’s dividend payout ratio (DPR) is 4.48%.

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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.

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

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