First Citizens BancShares (FCNCA) Stake Lowered by American Century Companies Inc.

American Century Companies Inc. reduced its holdings in First Citizens BancShares (NASDAQ:FCNCA) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,209 shares of the bank’s stock after selling 1,294 shares during the quarter. American Century Companies Inc. owned about 0.26% of First Citizens BancShares worth $12,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower View Investment Management & Research LLC purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $121,000. Captrust Financial Advisors purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $185,000. Cardinal Capital Management purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $201,000. Zeke Capital Advisors LLC purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $211,000. Finally, Two Sigma Securities LLC purchased a new position in First Citizens BancShares in the 4th quarter valued at approximately $223,000. 45.59% of the stock is owned by institutional investors and hedge funds.

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First Citizens BancShares stock opened at $449.95 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. First Citizens BancShares has a fifty-two week low of $323.74 and a fifty-two week high of $463.44.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Wednesday, April 25th. The bank reported $8.35 earnings per share for the quarter. The company had revenue of $437.55 million during the quarter. First Citizens BancShares had a return on equity of 11.53% and a net margin of 21.22%.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Monday, June 18th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, June 15th.

Separately, BidaskClub raised First Citizens BancShares from a “hold” rating to a “buy” rating in a research note on Friday, May 11th.

About First Citizens BancShares

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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