Northern Trust Corp lowered its holdings in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 49.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,441 shares of the bank’s stock after selling 47,297 shares during the quarter. Northern Trust Corp owned about 0.40% of First Citizens BancShares worth $19,537,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group raised its holdings in First Citizens BancShares by 1,659.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,204,887 shares of the bank’s stock worth $31,086,000 after acquiring an additional 1,136,397 shares during the period. Millennium Management LLC raised its holdings in First Citizens BancShares by 13,075.7% in the 2nd quarter. Millennium Management LLC now owns 99,872 shares of the bank’s stock worth $40,278,000 after acquiring an additional 99,114 shares during the period. Assenagon Asset Management S.A. bought a new position in First Citizens BancShares in the 2nd quarter worth $13,824,000. Fuller & Thaler Asset Management Inc. bought a new position in First Citizens BancShares in the 2nd quarter worth $13,694,000. Finally, First Citizens Bank & Trust Co. bought a new position in First Citizens BancShares in the 2nd quarter worth $11,333,000. Institutional investors and hedge funds own 45.29% of the company’s stock.
In related news, CFO Craig L. Nix acquired 60 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were bought at an average price of $471.75 per share, for a total transaction of $28,305.00. Following the acquisition, the chief financial officer now owns 60 shares in the company, valued at approximately $28,305. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.20% of the company’s stock.
NASDAQ:FCNCA opened at $426.63 on Thursday. First Citizens BancShares Inc. has a 52-week low of $387.22 and a 52-week high of $488.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.99 billion, a PE ratio of 12.79 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be issued a dividend of $0.40 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, December 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.38%.
Separately, BidaskClub downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th.
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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