Loews Corp maintained its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 690 shares of the bank’s stock at the end of the second quarter. Loews Corp’s holdings in First Citizens BancShares were worth $257,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of First Citizens BancShares during the second quarter valued at approximately $104,000. Teacher Retirement System of Texas bought a new position in shares of First Citizens BancShares during the second quarter valued at approximately $214,000. BNP Paribas Arbitrage SA boosted its stake in shares of 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 stake in shares of 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. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of 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. Institutional investors and hedge funds own 44.92% of the company’s stock.

In related news, major shareholder Olivia Britton Holding sold 245 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $362.06, for a total value of $88,704.70. Following the completion of the transaction, the insider now owns 343,898 shares in the company, valued at $124,511,709.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Hope Holding Bryant sold 2,500 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $345.00, for a total transaction of $862,500.00. Following the completion of the transaction, the insider now owns 272,572 shares of the company’s stock, valued at approximately $94,037,340. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock valued at $4,398,866 in the last 90 days. Company insiders own 19.38% of the company’s stock.

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First Citizens BancShares, Inc. (FCNCA) traded up 1.03% during trading on Friday, hitting $338.37. 76,255 shares of the stock were exchanged. The stock’s 50 day moving average price is $347.25 and its 200 day moving average price is $349.97. First Citizens BancShares, Inc. has a 12 month low of $276.48 and a 12 month high of $395.15. The stock has a market cap of $4.06 billion, a P/E ratio of 13.26 and a beta of 1.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, September 15th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.70%.

A number of research firms have recently issued reports on FCNCA. BidaskClub downgraded shares of First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating in a research note on Friday, August 18th.

First Citizens BancShares Company 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.

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

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