California State Teachers Retirement System lessened its stake in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 4.1% during the first quarter, HoldingsChannel reports. The firm owned 12,275 shares of the bank’s stock after selling 519 shares during the period. California State Teachers Retirement System’s holdings in First Citizens BancShares were worth $4,998,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in First Citizens BancShares during the first quarter valued at approximately $99,000. Great West Life Assurance Co. Can lifted its stake in First Citizens BancShares by 5.0% during the first quarter. Great West Life Assurance Co. Can now owns 160,541 shares of the bank’s stock valued at $65,153,000 after purchasing an additional 7,665 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in First Citizens BancShares by 13.4% during the first quarter. JPMorgan Chase & Co. now owns 19,568 shares of the bank’s stock valued at $7,968,000 after purchasing an additional 2,308 shares during the last quarter. Parametrica Management Ltd lifted its stake in First Citizens BancShares by 39.0% during the first quarter. Parametrica Management Ltd now owns 1,051 shares of the bank’s stock valued at $428,000 after purchasing an additional 295 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in First Citizens BancShares by 29.4% during the first quarter. Raymond James & Associates now owns 1,531 shares of the bank’s stock valued at $623,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 44.61% of the company’s stock.
Separately, BidaskClub downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th.
First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $9.67 EPS for the quarter. The business had revenue of $424.14 million during the quarter. First Citizens BancShares had a net margin of 24.62% and a return on equity of 11.79%.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.37%.
In other First Citizens BancShares news, major shareholder Claire H. Bristow sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $4,480,000.00. Following the transaction, the insider now owns 30,000 shares in the company, valued at approximately $13,440,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders purchased 67 shares of company stock valued at $24,751. 16.20% of the stock is owned by insiders.
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About First Citizens BancShares
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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