Synovus Financial Corp continued to hold its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 705 shares of the bank’s stock at the close of the second quarter. Synovus Financial Corp’s holdings in First Citizens BancShares were worth $263,000 at the end of the most recent reporting period.

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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) opened at 329.71 on Friday. First Citizens BancShares, Inc. has a 12 month low of $275.27 and a 12 month high of $395.15. The company has a market cap of $3.96 billion, a P/E ratio of 12.93 and a beta of 1.07. The company’s 50-day moving average price is $352.37 and its 200-day moving average price is $350.92.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $1.20 annualized dividend and a yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.70%.

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A number of brokerages recently weighed in on FCNCA. BidaskClub downgraded First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine downgraded First Citizens BancShares from a “buy” rating to a “hold” rating in a research report on Friday, August 18th.

In other news, Vice Chairman Hope Holding Bryant sold 2,500 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $340.00, for a total transaction of $850,000.00. Following the completion of the transaction, the insider now directly owns 272,572 shares of the company’s stock, valued at approximately $92,674,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding sold 245 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $362.06, for a total value of $88,704.70. Following the transaction, the insider now directly owns 343,898 shares of the company’s stock, valued at $124,511,709.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,500 shares of company stock worth $4,398,866. 19.38% of the stock is owned by company insiders.

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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