Reinhart Partners Inc. Has $7.57 Million Position in First Citizens BancShares Inc. (NASDAQ:FCNCA)

Reinhart Partners Inc. reduced its position in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,057 shares of the bank’s stock after selling 678 shares during the period. Reinhart Partners Inc.’s holdings in First Citizens BancShares were worth $7,572,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FCNCA. Parallel Advisors LLC raised its stake in First Citizens BancShares by 10.7% during the 3rd quarter. Parallel Advisors LLC now owns 330 shares of the bank’s stock valued at $156,000 after purchasing an additional 32 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Citizens BancShares by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381 shares of the bank’s stock valued at $172,000 after acquiring an additional 36 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of First Citizens BancShares during the 3rd quarter valued at $201,000. Pettinga Financial Advisors LLC purchased a new position in shares of First Citizens BancShares during the 2nd quarter valued at $218,000. Finally, Commonwealth Bank of Australia grew its holdings in shares of First Citizens BancShares by 75.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 700 shares of the bank’s stock valued at $315,000 after acquiring an additional 300 shares in the last quarter. 44.42% of the stock is currently owned by institutional investors.

In other news, President Peter M. Bristow sold 9,545 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $472.00, for a total transaction of $4,505,240.00. Following the completion of the sale, the president now owns 6,737 shares of the company’s stock, valued at $3,179,864. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert R. Hoppe acquired 80 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $427.00 per share, with a total value of $34,160.00. Following the acquisition, 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. In the last ninety days, insiders have sold 13,341 shares of company stock valued at $4,888,877. Company insiders own 16.20% of the company’s stock.

Shares of First Citizens BancShares stock traded down $2.92 on Friday, hitting $511.30. 34,500 shares of the company traded hands, compared to its average volume of 44,054. First Citizens BancShares Inc. has a 12-month low of $355.18 and a 12-month high of $516.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The company has a market cap of $5.59 billion, a PE ratio of 12.87 and a beta of 1.14. The company has a 50-day moving average price of $483.24 and a 200 day moving average price of $456.17.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $11.27 earnings per share for the quarter. The company had revenue of $437.36 million during the quarter. First Citizens BancShares had a net margin of 25.04% and a return on equity of 12.61%.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, December 13th.

Several equities analysts have recently commented on the stock. ValuEngine cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. BidaskClub cut shares of First Citizens BancShares from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd.

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

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