Shell Asset Management Co. Sells 78 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Shell Asset Management Co. lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) by 12.7% during the first quarter, HoldingsChannel reports. The firm owned 535 shares of the bank’s stock after selling 78 shares during the quarter. Shell Asset Management Co.’s holdings in First Citizens BancShares were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCNCA. Russell Investments Group Ltd. raised its stake in shares of First Citizens BancShares by 47.2% during the 4th quarter. Russell Investments Group Ltd. now owns 870 shares of the bank’s stock worth $721,000 after purchasing an additional 279 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in First Citizens BancShares by 7.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 3,430 shares of the bank’s stock valued at $2,846,000 after acquiring an additional 252 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Citizens BancShares by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 481 shares of the bank’s stock valued at $399,000 after acquiring an additional 50 shares during the period. Oppenheimer Asset Management Inc. raised its stake in First Citizens BancShares by 15.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 292 shares of the bank’s stock valued at $242,000 after acquiring an additional 40 shares during the period. Finally, Physicians Financial Services Inc. raised its stake in First Citizens BancShares by 30.0% in the 4th quarter. Physicians Financial Services Inc. now owns 520 shares of the bank’s stock valued at $432,000 after acquiring an additional 120 shares during the period. Institutional investors own 39.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th.

First Citizens BancShares Stock Up 1.1 %

FCNCA stock opened at $798.94 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 14.31 and a beta of 1.08. The business’s fifty day moving average price is $685.67 and its two-hundred day moving average price is $700.30. First Citizens BancShares, Inc. has a fifty-two week low of $598.01 and a fifty-two week high of $947.71.

First Citizens BancShares (NASDAQ:FCNCAGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The bank reported $16.86 earnings per share for the quarter, topping the consensus estimate of $13.77 by $3.09. First Citizens BancShares had a return on equity of 13.18% and a net margin of 20.83%. During the same quarter in the previous year, the business posted $15.09 EPS. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 68.26 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, August 30th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.37%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 254 shares of First Citizens BancShares stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $630.00 per share, with a total value of $160,020.00. Following the acquisition, the chief executive officer now owns 92,212 shares in the company, valued at approximately $58,093,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Profile

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First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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