Reinhart Partners Inc. lowered its stake in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,057 shares of the bank’s stock after selling 678 shares during the period. Reinhart Partners Inc. owned 0.14% of First Citizens BancShares worth $7,572,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. Parallel Advisors LLC raised its holdings in shares of First Citizens BancShares by 10.7% during the 3rd quarter. Parallel Advisors LLC now owns 330 shares of the bank’s stock worth $156,000 after acquiring an additional 32 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Citizens BancShares by 10.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381 shares of the bank’s stock valued at $172,000 after acquiring an additional 36 shares during the period. CIBC Asset Management Inc acquired a new position in First Citizens BancShares in the third quarter valued at approximately $201,000. Pettinga Financial Advisors LLC acquired a new position in First Citizens BancShares in the second quarter valued at approximately $218,000. Finally, Commonwealth Bank of Australia boosted its stake in First Citizens BancShares by 75.0% in the second quarter. Commonwealth Bank of Australia now owns 700 shares of the bank’s stock valued at $315,000 after acquiring an additional 300 shares during the period. 44.42% of the stock is currently owned by institutional investors.
Shares of FCNCA stock traded down $2.92 during trading hours on Friday, hitting $511.30. 34,500 shares of the company’s stock were exchanged, compared to its average volume of 44,054. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $5.59 billion, a PE ratio of 12.87 and a beta of 1.14. The business’s 50 day simple moving average is $483.24 and its 200-day simple moving average is $456.17. First Citizens BancShares Inc. has a 12-month low of $355.18 and a 12-month high of $516.13.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $11.27 EPS for the quarter. The company had revenue of $437.36 million for the quarter. First Citizens BancShares had a return on equity of 12.61% and a net margin of 25.04%.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th.
FCNCA has been the topic of several research analyst reports. ValuEngine cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub cut shares of First Citizens BancShares from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd.
In other news, major shareholder Claire H. Bristow sold 455 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $472.05, for a total transaction of $214,782.75. Following the completion of the transaction, the insider now directly owns 30,000 shares in the company, valued at $14,161,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert R. Hoppe acquired 80 shares of First Citizens BancShares stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average price of $427.00 per share, with a total value of $34,160.00. Following the completion of the transaction, the director now owns 280 shares of the company’s stock, valued at approximately $119,560. The disclosure for this purchase can be found here. Over the last three months, insiders sold 13,341 shares of company stock valued at $4,888,877. 16.20% of the stock is owned by corporate insiders.
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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