First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Sells $903,000.00 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the transaction, the director now directly owns 819 shares of the company’s stock, valued at approximately $1,433,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Citizens BancShares Trading Up 0.1 %

Shares of FCNCA stock opened at $1,732.92 on Friday. The company has a market capitalization of $25.17 billion, a P/E ratio of 9.62 and a beta of 0.86. First Citizens BancShares, Inc. has a 12-month low of $1,150.00 and a 12-month high of $1,810.03. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $1,612.75 and a 200 day moving average price of $1,502.00.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several recent research reports. Piper Sandler cut First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $1,850.00 to $1,950.00 in a report on Friday, April 26th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. UBS Group boosted their price target on shares of 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. Finally, The Goldman Sachs Group assumed coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,829.90.

Institutional Investors Weigh In On First Citizens BancShares

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of First Citizens BancShares by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,017,655 shares of the bank’s stock valued at $1,444,022,000 after acquiring an additional 6,906 shares during the period. JPMorgan Chase & Co. raised its holdings in First Citizens BancShares by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 262,267 shares of the bank’s stock worth $361,956,000 after purchasing an additional 13,658 shares during the last quarter. Wellington Management Group LLP lifted its position in First Citizens BancShares by 21.1% during the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after purchasing an additional 41,793 shares during the period. FMR LLC boosted its stake in shares of First Citizens BancShares by 17.2% in the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after purchasing an additional 27,729 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of First Citizens BancShares by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 186,822 shares of the bank’s stock worth $265,120,000 after buying an additional 534 shares during the period. 61.18% of the stock is currently owned by institutional investors.

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.