Ameriprise Financial Inc. lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 22.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,522 shares of the bank’s stock after buying an additional 8,055 shares during the quarter. Ameriprise Financial Inc. owned about 0.37% of First Citizens BancShares worth $16,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in First Citizens BancShares in the 2nd quarter worth approximately $214,000. BNP Paribas Arbitrage SA boosted its holdings in First Citizens BancShares by 244.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,034 shares of the bank’s stock valued at $385,000 after acquiring an additional 734 shares during the period. Pacer Advisors Inc. boosted its holdings in First Citizens BancShares by 17.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,126 shares of the bank’s stock valued at $420,000 after acquiring an additional 166 shares during the period. Cannell Peter B & Co. Inc. boosted its holdings in First Citizens BancShares by 69.2% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,650 shares of the bank’s stock valued at $615,000 after acquiring an additional 675 shares during the period. Finally, Legal & General Group Plc boosted its holdings in First Citizens BancShares by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 2,685 shares of the bank’s stock valued at $1,003,000 after acquiring an additional 261 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares, Inc. (FCNCA) traded down 0.24% on Friday, hitting $383.58. The stock had a trading volume of 14,437 shares. The company has a market cap of $4.61 billion, a P/E ratio of 15.04 and a beta of 1.10. The firm’s 50-day moving average is $356.17 and its 200-day moving average is $353.30. First Citizens BancShares, Inc. has a 52-week low of $280.98 and a 52-week high of $395.15.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, September 15th. First Citizens BancShares’s dividend payout ratio is presently 4.70%.

In related news, major shareholder Olivia Britton Holding sold 245 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $362.06, for a total value of $88,704.70. Following the sale, the insider now owns 343,898 shares of the company’s stock, valued at approximately $124,511,709.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Hope Holding Bryant sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $345.00, for a total value of $862,500.00. Following the completion of the sale, the insider now directly owns 272,572 shares in the company, valued at approximately $94,037,340. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $4,398,866 in the last ninety days. 19.38% of the stock is owned by corporate insiders.

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FCNCA has been the subject of a number of recent analyst reports. ValuEngine upgraded First Citizens BancShares from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. BidaskClub cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, July 31st.

First Citizens BancShares 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.

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

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