First Citizens BancShares, Inc. (FCNCA) To Go Ex-Dividend on August 31st

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Thursday, July 23rd. Investors of record on Monday, August 31st will be given a dividend of 2.10 per share by the bank on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st.

First Citizens BancShares has increased its dividend by an average of 0.4%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. First Citizens BancShares has a dividend payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Citizens BancShares to earn $202.02 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 4.2%.

First Citizens BancShares Trading Down 2.4%

Shares of FCNCA opened at $2,160.65 on Friday. The firm’s 50 day simple moving average is $2,064.10 and its 200 day simple moving average is $2,018.36. The company has a market capitalization of $25.04 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.67 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. First Citizens BancShares has a 1-year low of $1,623.76 and a 1-year high of $2,237.82.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a net margin of 16.28% and a return on equity of 11.98%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.16 billion. Sell-side analysts forecast that First Citizens BancShares will post 177.18 earnings per share for the current fiscal year.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 528 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the purchase, the chief executive officer owned 64,100 shares of the company’s stock, valued at approximately $116,237,017. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 7,190 shares of company stock valued at $12,573,868. Insiders own 14.63% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after acquiring an additional 205,658 shares during the last quarter. Norges Bank bought a new position in First Citizens BancShares during the 4th quarter worth approximately $116,565,000. River Road Asset Management LLC grew its position in First Citizens BancShares by 574.0% during the 4th quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock worth $118,903,000 after acquiring an additional 47,182 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in First Citizens BancShares by 2,057.4% in the 2nd 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. Finally, M&T Bank Corp increased its stake in First Citizens BancShares by 13,512.7% in the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock worth $82,679,000 after purchasing an additional 38,241 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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.