First Citizens BancShares Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Wednesday, January 31st, Zacks reports. Investors of record on Monday, March 19th will be paid a dividend of 0.35 per share by the bank on Monday, April 2nd. This represents a $1.40 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, March 16th.
Shares of First Citizens BancShares (FCNCA) traded up $13.24 during mid-day trading on Thursday, reaching $438.65. The company had a trading volume of 30,785 shares, compared to its average volume of 31,667. The firm has a market capitalization of $5,225.67, a PE ratio of 16.07 and a beta of 1.15. First Citizens BancShares has a 52-week low of $319.40 and a 52-week high of $459.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.86.
First Citizens BancShares declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that permits the company to buyback 800,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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.
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