First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Sells $1,757,270.00 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 1,000 shares of the 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 transaction, the director now directly owns 1,335 shares in the company, valued at approximately $2,345,955.45. The transaction was disclosed in a filing with the SEC, which is available at this link.

First Citizens BancShares Stock Performance

Shares of FCNCA stock traded down $20.72 during midday trading on Tuesday, hitting $1,686.76. The company had a trading volume of 95,239 shares, compared to its average volume of 82,440. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50 day simple moving average is $1,586.73 and its 200 day simple moving average is $1,484.07. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 9.36 and a beta of 0.89. First Citizens BancShares, Inc. has a 52-week low of $945.32 and a 52-week high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. Research analysts anticipate that First Citizens BancShares, Inc. will post 179.92 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FCNCA shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday. DA Davidson restated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, UBS Group raised their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $1,829.90.

Institutional Trading of First Citizens BancShares

Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its holdings 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 during the period. IFM Investors Pty Ltd acquired a new stake in shares of First Citizens BancShares in the 1st quarter valued at approximately $3,695,000. Mackenzie Financial Corp raised its holdings in First Citizens BancShares by 89.3% during the fourth 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 last quarter. Nordea Investment Management AB raised its holdings in First Citizens BancShares by 3,091.6% during the fourth 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 last quarter. Finally, Reinhart Partners LLC. raised its holdings in First Citizens BancShares by 11.7% during the fourth 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 last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

About First Citizens BancShares

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.