First Citizens BancShares, Inc. (NASDAQ:FCNCA) Position Lifted by Systematic Financial Management LP

Systematic Financial Management LP grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,923 shares of the bank’s stock after buying an additional 50 shares during the period. Systematic Financial Management LP owned 0.68% of First Citizens BancShares worth $30,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of First Citizens BancShares by 7.4% during the second quarter. Wells Fargo & Company MN now owns 209,753 shares of the bank’s stock worth $78,174,000 after purchasing an additional 14,486 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of First Citizens BancShares by 2.5% during the second quarter. Great West Life Assurance Co. Can now owns 178,110 shares of the bank’s stock worth $66,185,000 after purchasing an additional 4,325 shares in the last quarter. Boston Partners grew its holdings in shares of First Citizens BancShares by 3.4% during the second quarter. Boston Partners now owns 86,935 shares of the bank’s stock worth $32,401,000 after purchasing an additional 2,863 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of First Citizens BancShares by 2.9% during the second quarter. Schroder Investment Management Group now owns 69,741 shares of the bank’s stock worth $26,111,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of First Citizens BancShares by 7.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 66,462 shares of the bank’s stock worth $24,771,000 after purchasing an additional 4,842 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Shares of First Citizens BancShares, Inc. (NASDAQ FCNCA) opened at 354.75 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 13.91 and a beta of 1.07. First Citizens BancShares, Inc. has a 52 week low of $276.64 and a 52 week high of $395.15. The firm has a 50-day moving average price of $346.21 and a 200 day moving average price of $349.57.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, September 15th. First Citizens BancShares’s payout ratio is 4.70%.

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

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In other news, major shareholder Olivia Britton Holding sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $366.26, for a total value of $1,831,300.00. Following the completion of the transaction, the insider now directly owns 343,898 shares of the company’s stock, valued at approximately $125,956,081.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Hope Holding Bryant sold 2,255 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $339.85, for a total value of $766,361.75. Following the completion of the transaction, the insider now directly owns 272,572 shares of the company’s stock, valued at $92,633,594.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,500 shares of company stock valued at $4,398,866. Corporate insiders own 19.38% of the company’s stock.

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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