California State Teachers Retirement System reduced its stake in First Citizens BancShares Inc. (NASDAQ:FCNCA) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,879 shares of the bank’s stock after selling 1,307 shares during the period. California State Teachers Retirement System owned approximately 0.10% of First Citizens BancShares worth $4,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its stake in shares of First Citizens BancShares by 2.9% in the second quarter. Schroder Investment Management Group now owns 69,741 shares of the bank’s stock worth $26,111,000 after acquiring an additional 1,946 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of First Citizens BancShares by 8.4% during the second quarter. Voya Investment Management LLC now owns 3,616 shares of the bank’s stock valued at $1,348,000 after buying an additional 281 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of First Citizens BancShares by 38.7% during the second quarter. Parametric Portfolio Associates LLC now owns 14,168 shares of the bank’s stock valued at $5,280,000 after buying an additional 3,951 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of First Citizens BancShares by 34.7% during the second quarter. Prudential Financial Inc. now owns 21,274 shares of the bank’s stock valued at $7,929,000 after buying an additional 5,475 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of First Citizens BancShares during the third quarter valued at $12,912,000. 44.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) opened at $414.00 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. First Citizens BancShares Inc. has a 12-month low of $319.40 and a 12-month high of $436.00. The company has a market capitalization of $4,858.04, a price-to-earnings ratio of 15.44 and a beta of 1.15.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $5.58 EPS for the quarter. First Citizens BancShares had a return on equity of 10.17% and a net margin of 20.60%. The company had revenue of $398.56 million for the quarter.

First Citizens BancShares announced that its board has approved a stock repurchase plan on Wednesday, October 25th that allows the company to buyback 800,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were given a dividend of $0.35 per share. The ex-dividend date was Friday, December 15th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.34%. First Citizens BancShares’s dividend payout ratio (DPR) is 5.22%.

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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.

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

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