First Citizens BancShares Inc. (FCNCA) Director Harold Lee Durham, Jr. Acquires 50 Shares

First Citizens BancShares Inc. (NASDAQ:FCNCA) Director Harold Lee Durham, Jr. bought 50 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $420.00 per share, for a total transaction of $21,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $210,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

First Citizens BancShares Inc. (FCNCA) opened at $419.80 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.85. First Citizens BancShares Inc. has a 12-month low of $319.40 and a 12-month high of $459.27. The stock has a market capitalization of $5,430.00, a price-to-earnings ratio of 15.57 and a beta of 1.13.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Wednesday, January 31st. The bank reported $6.68 earnings per share (EPS) for the quarter. First Citizens BancShares had a return on equity of 10.86% and a net margin of 20.11%. The firm had revenue of $414.92 million for the quarter.

First Citizens BancShares declared that its board has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase 800,000 outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, March 16th. First Citizens BancShares’s payout ratio is 5.19%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower View Investment Management & Research LLC acquired a new stake in First Citizens BancShares during the 4th quarter worth about $121,000. Cardinal Capital Management acquired a new stake in First Citizens BancShares during the 4th quarter worth about $201,000. Principal Financial Group Inc. grew its position in First Citizens BancShares by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,171 shares of the bank’s stock worth $438,000 after purchasing an additional 249 shares during the period. Pacer Advisors Inc. grew its position in First Citizens BancShares by 28.5% during the 3rd quarter. Pacer Advisors Inc. now owns 1,447 shares of the bank’s stock worth $541,000 after purchasing an additional 321 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in First Citizens BancShares during the 3rd quarter worth about $747,000. 44.89% of the stock is currently owned by hedge funds and other institutional investors.

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First Citizens BancShares Company 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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