JPMorgan Chase & Co. reduced its holdings in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 57.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,455 shares of the bank’s stock after selling 24,738 shares during the period. JPMorgan Chase & Co.’s holdings in First Citizens BancShares were worth $8,347,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in FCNCA. Renaissance Technologies LLC grew its position in shares of First Citizens BancShares by 381.8% in the 2nd quarter. Renaissance Technologies LLC now owns 5,300 shares of the bank’s stock valued at $2,137,000 after buying an additional 4,200 shares during the last quarter. Raymond James & Associates purchased a new position in shares of First Citizens BancShares in the 2nd quarter valued at $301,000. First Trust Advisors LP grew its position in shares of First Citizens BancShares by 97.6% in the 3rd quarter. First Trust Advisors LP now owns 38,843 shares of the bank’s stock valued at $17,568,000 after buying an additional 19,186 shares during the last quarter. Reinhart Partners Inc. grew its position in shares of First Citizens BancShares by 12.9% in the 3rd quarter. Reinhart Partners Inc. now owns 10,927 shares of the bank’s stock valued at $4,942,000 after buying an additional 1,249 shares during the last quarter. Finally, GWM Advisors LLC purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at $313,000. 46.74% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded shares of First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th.
First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Wednesday, January 30th. The bank reported $7.62 EPS for the quarter. The firm had revenue of $402.89 million for the quarter. First Citizens BancShares had a net margin of 23.88% and a return on equity of 11.64%.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, March 15th.
In other First Citizens BancShares news, CFO Craig L. Nix purchased 84 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The stock was purchased at an average price of $419.86 per share, for a total transaction of $35,268.24. Following the purchase, the chief financial officer now directly owns 243 shares in the company, valued at $102,025.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Hope Holding Bryant sold 531 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $432.00, for a total transaction of $229,392.00. Following the sale, the insider now owns 424,127 shares of the company’s stock, valued at approximately $183,222,864. The disclosure for this sale can be found here. Insiders sold a total of 10,186 shares of company stock worth $4,353,414 over the last ninety days. Insiders own 19.20% of the company’s stock.
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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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