First Citizens BancShares (NASDAQ:FCNCA) Reaches New 12-Month High at $1,629.18

First Citizens BancShares, Inc. (NASDAQ:FCNCA) shares reached a new 52-week high during trading on Thursday . The company traded as high as $1,629.18 and last traded at $1,628.04, with a volume of 28599 shares changing hands. The stock had previously closed at $1,616.88.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. DA Davidson reiterated a “neutral” rating on shares of First Citizens BancShares in a report on Monday, January 15th. UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group began coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,667.71.

First Citizens BancShares Stock Up 1.1 %

The business has a 50-day simple moving average of $1,524.96 and a two-hundred day simple moving average of $1,441.35. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 2.06 and a beta of 0.88.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 177.52 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Insiders acquired 1,388 shares of company stock valued at $1,825,220 in the last three months. 13.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after acquiring an additional 10 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth about $30,000. Lindbrook Capital LLC boosted its position in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after buying an additional 8 shares during the period. Castleview Partners LLC purchased a new stake in shares of First Citizens BancShares in the second quarter worth about $31,000. Finally, Principal Securities Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.