First Citizens BancShares (NASDAQ:FCNCA) CEO Frank Holding, Jr. Buys 225 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CEO Frank Holding, Jr. acquired 225 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $1,751.95 per share, with a total value of $394,188.75. Following the completion of the transaction, the chief executive officer directly owned 63,547 shares in the company, valued at approximately $111,331,166.65. The trade was a 0.36% 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.

First Citizens BancShares Stock Down 0.0%

FCNCA stock opened at $2,074.25 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a 50 day moving average price of $1,968.93 and a two-hundred day moving average price of $2,001.80. The stock has a market capitalization of $24.04 billion, a P/E ratio of 11.93, a PEG ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the company earned $37.79 EPS. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is currently 4.83%.

Institutional Investors Weigh In On First Citizens BancShares

A number of institutional investors have recently modified their holdings of FCNCA. Hilton Head Capital Partners LLC bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new position in First Citizens BancShares in the 3rd quarter worth about $27,000. Harbor Investment Advisory LLC grew its position in First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in First Citizens BancShares by 280.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after purchasing an additional 14 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Keefe, Bruyette & Woods reduced their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a report on Wednesday, April 8th. Finally, Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2,215.91.

First Citizens BancShares Company Profile

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.