First Citizens BancShares, Inc. Announces Quarterly Dividend of $2.10 (NASDAQ:FCNCA)

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Friday, January 23rd. Shareholders of record on Friday, February 27th will be paid a dividend of 2.10 per share by the bank on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th.

First Citizens BancShares has raised its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 8 years. First Citizens BancShares has a dividend payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Citizens BancShares to earn $193.69 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 4.3%.

First Citizens BancShares Price Performance

Shares of FCNCA traded down $186.21 on Friday, reaching $2,017.32. The stock had a trading volume of 261,953 shares, compared to its average volume of 97,790. The firm has a market capitalization of $25.10 billion, a PE ratio of 11.93 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average of $2,055.25 and a 200 day moving average of $1,954.09. First Citizens BancShares has a twelve month low of $1,473.62 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.09% and a net margin of 15.99%.The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. Sell-side analysts expect that First Citizens BancShares will post 167.59 EPS for the current year.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany acquired 300 shares of the stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director directly owned 300 shares of the company’s stock, valued at $300,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average cost of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the transaction, the chief executive officer owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The SEC filing for this purchase provides additional information. 13.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FCNCA. Norges Bank acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at approximately $177,604,000. Orion Porfolio Solutions LLC boosted its holdings in First Citizens BancShares by 2,057.4% in the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock worth $92,944,000 after purchasing an additional 45,304 shares during the period. Allspring Global Investments Holdings LLC increased its stake in First Citizens BancShares by 390.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after purchasing an additional 38,446 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of First Citizens BancShares by 824.0% during the third quarter. Marshall Wace LLP now owns 29,310 shares of the bank’s stock worth $52,440,000 after purchasing an additional 26,138 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of First Citizens BancShares during the third quarter worth $46,540,000. Institutional investors own 78.01% of the company’s stock.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.