Ellen R. Alemany Sells 1,000 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the completion of the transaction, the director now owns 1,335 shares in the company, valued at $2,345,955.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Citizens BancShares Trading Down 1.2 %

Shares of First Citizens BancShares stock traded down $20.72 on Tuesday, hitting $1,686.76. 95,239 shares of the company’s stock traded hands, compared to its average volume of 82,440. The firm’s 50-day moving average price is $1,586.73 and its two-hundred day moving average price is $1,484.07. The stock has a market capitalization of $24.49 billion, a PE ratio of 9.36 and a beta of 0.89. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,810.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. On average, research analysts expect that First Citizens BancShares, Inc. will post 179.92 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $1,850.00 to $1,950.00 in a research note on Friday. Barclays boosted their target price on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a report on Friday. DA Davidson restated a “neutral” rating and issued a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $2,100.00 price objective (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,829.90.

Institutional Trading of First Citizens BancShares

Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of First Citizens BancShares by 145.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after buying an additional 833 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in First Citizens BancShares in the 1st quarter worth $3,695,000. Mackenzie Financial Corp boosted its stake in First Citizens BancShares by 89.3% in the 4th quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock worth $2,716,000 after purchasing an additional 903 shares during the period. Nordea Investment Management AB boosted its stake in First Citizens BancShares by 3,091.6% in the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after purchasing an additional 23,156 shares during the period. Finally, Reinhart Partners LLC. boosted its stake in First Citizens BancShares by 11.7% in the 4th quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after purchasing an additional 5,952 shares during the period. 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.