Systematic Financial Management LP trimmed its holdings in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,994 shares of the bank’s stock after selling 1,071 shares during the quarter. Systematic Financial Management LP’s holdings in First Citizens BancShares were worth $34,253,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in First Citizens BancShares by 38.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,168 shares of the bank’s stock valued at $5,280,000 after purchasing an additional 3,951 shares in the last quarter. Voya Investment Management LLC boosted its stake in First Citizens BancShares by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 3,616 shares of the bank’s stock valued at $1,348,000 after purchasing an additional 281 shares in the last quarter. California Public Employees Retirement System boosted its stake in First Citizens BancShares by 3.9% during the 3rd quarter. California Public Employees Retirement System now owns 16,180 shares of the bank’s stock valued at $6,050,000 after purchasing an additional 604 shares in the last quarter. American Century Companies Inc. bought a new position in First Citizens BancShares during the 3rd quarter valued at $12,912,000. Finally, First Citizens Bank & Trust Co. boosted its stake in First Citizens BancShares by 66.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 10,509 shares of the bank’s stock valued at $4,235,000 after purchasing an additional 4,184 shares in the last quarter. 45.09% of the stock is owned by institutional investors and hedge funds.
First Citizens BancShares Inc. (FCNCA) opened at $436.80 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $5,245.97, a price-to-earnings ratio of 15.01 and a beta of 1.13. First Citizens BancShares Inc. has a one year low of $319.40 and a one year high of $459.27.
First Citizens BancShares announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback 800,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.32%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.19%.
About First Citizens BancShares
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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