First Citizens BancShares (NASDAQ:FCNCA) CEO Frank Holding, Jr. Buys 92 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CEO Frank Holding, Jr. acquired 92 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $1,550.00 per share, with a total value of $142,600.00. Following the transaction, the chief executive officer directly owned 2,841 shares of the company’s stock, valued at approximately $4,403,550. This represents a 3.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,815.10 on Friday. The firm’s fifty day simple moving average is $2,016.82 and its 200 day simple moving average is $1,948.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 10.95 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a research report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research lowered shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new position in First Citizens BancShares in the third quarter valued at $27,000. UMB Bank n.a. increased its stake in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after buying an additional 8 shares during the last quarter. Steph & Co. bought a new stake in First Citizens BancShares during the 3rd quarter worth about $32,000. Finally, Root Financial Partners LLC acquired a new stake in shares of First Citizens BancShares in the third quarter valued at about $32,000. 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.