California State Teachers Retirement System Sells 1,556 Shares of First Citizens BancShares, Inc. $FCNCA

California State Teachers Retirement System lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,695 shares of the bank's stock after selling 1,556 shares during the quarter. California State Teachers Retirement System owned 0.09% of First Citizens BancShares worth $22,254,049 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hiddenite Capital Partners LP bought a new stake in First Citizens BancShares during the fourth quarter worth about $6,868,000. Check Capital Management Inc. CA boosted its position in shares of First Citizens BancShares by 21.0% during the 4th quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank's stock valued at $91,831,000 after acquiring an additional 7,424 shares during the last quarter. Barr E S & Co. boosted its stake in shares of First Citizens BancShares by 33.2% in the 4th quarter. Barr E S & Co. now owns 5,995 shares of the bank's stock valued at $12,866,000 after buying an additional 1,495 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of First Citizens BancShares by 181.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,438 shares of the bank's stock worth $3,087,000 after acquiring an additional 927 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in First Citizens BancShares in the 4th quarter valued at $5,226,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FCNCA shares. Barclays lifted their price objective on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Fundamental Research set a $2,350.00 target price on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Weiss Ratings upgraded First Citizens BancShares from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Citigroup reissued a "neutral" rating on shares of First Citizens BancShares in a research note on Friday, July 24th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $2,300.00 price objective on shares of First Citizens BancShares in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, First Citizens BancShares presently has an average rating of "Hold" and an average target price of $2,272.54.

First Citizens BancShares Trading Up 0.3%

Shares of NASDAQ FCNCA traded up $7.31 during mid-day trading on Tuesday, hitting $2,181.19. The company's stock had a trading volume of 29,104 shares, compared to its average volume of 84,007. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.64 and a beta of 0.60. The company's fifty day simple moving average is $2,169.56 and its 200-day simple moving average is $2,043.29. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,296.30. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. First Citizens BancShares's dividend payout ratio is presently 4.49%.

Insider Buying and Selling at First Citizens BancShares

In related news, Director Diane Morais acquired 50 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $2,168.11 per share, for a total transaction of $108,405.50. Following the purchase, the director owned 100 shares of the company's stock, valued at $216,811. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.63% of the company's stock.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.

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