First Citizens BancShares Inc. (FCNCA) Shares Sold by Strs Ohio
Strs Ohio cut its stake in shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,600 shares of the bank’s stock after selling 200 shares during the period. Strs Ohio’s holdings in First Citizens BancShares were worth $1,450,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in FCNCA. Principal Financial Group Inc. increased its holdings in shares of First Citizens BancShares by 27.0% during the third quarter. Principal Financial Group Inc. now owns 1,171 shares of the bank’s stock worth $438,000 after buying an additional 249 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of First Citizens BancShares by 28.5% during the third quarter. Pacer Advisors Inc. now owns 1,447 shares of the bank’s stock worth $541,000 after buying an additional 321 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of First Citizens BancShares during the third quarter worth $747,000. SG Americas Securities LLC increased its holdings in shares of First Citizens BancShares by 453.1% during the third quarter. SG Americas Securities LLC now owns 2,550 shares of the bank’s stock worth $953,000 after buying an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in First Citizens BancShares by 13.7% in the third quarter. Legal & General Group Plc now owns 3,052 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 367 shares during the period. Institutional investors own 44.91% of the company’s stock.
Shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) opened at $427.40 on Friday. The firm has a market capitalization of $5,133.07, a price-to-earnings ratio of 14.69 and a beta of 1.13. First Citizens BancShares Inc. has a 1-year low of $319.40 and a 1-year high of $459.27. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.
First Citizens BancShares announced that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase 800,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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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.
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