ValuEngine cut shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) from a buy rating to a hold rating in a research report report published on Friday morning.
Separately, BidaskClub upgraded shares of First Citizens BancShares from a sell rating to a hold rating in a research report on Saturday, June 10th.
First Citizens BancShares (NASDAQ:FCNCA) traded down 0.56% during midday trading on Friday, hitting $338.51. The stock had a trading volume of 18,449 shares. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 13.27 and a beta of 1.05. First Citizens BancShares has a 12 month low of $273.54 and a 12 month high of $395.15. The stock has a 50 day moving average of $368.07 and a 200 day moving average of $353.22.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 15th. This represents a $1.20 annualized dividend and a yield of 0.35%. First Citizens BancShares’s payout ratio is currently 4.70%.
In other First Citizens BancShares news, major shareholder Olivia Britton Holding sold 245 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $362.06, for a total transaction of $88,704.70. Following the transaction, the insider now directly owns 343,898 shares in the company, valued at $124,511,709.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in First Citizens BancShares by 11.5% in the second quarter. FMR LLC now owns 1,383,090 shares of the bank’s stock valued at $515,478,000 after buying an additional 142,265 shares in the last quarter. Vanguard Group Inc. raised its stake in First Citizens BancShares by 0.4% in the second quarter. Vanguard Group Inc. now owns 555,580 shares of the bank’s stock valued at $207,065,000 after buying an additional 2,442 shares in the last quarter. Wells Fargo & Company MN raised its stake in First Citizens BancShares by 7.4% in the second quarter. Wells Fargo & Company MN now owns 209,753 shares of the bank’s stock valued at $78,174,000 after buying an additional 14,486 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in First Citizens BancShares by 2.5% in the second quarter. Great West Life Assurance Co. Can now owns 178,110 shares of the bank’s stock valued at $66,185,000 after buying an additional 4,325 shares in the last quarter. Finally, State Street Corp raised its stake in First Citizens BancShares by 5.0% in the second quarter. State Street Corp now owns 155,276 shares of the bank’s stock valued at $57,875,000 after buying an additional 7,414 shares in the last quarter. Institutional investors own 45.81% of the company’s stock.
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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