First Citizens BancShares (NASDAQ:FCNCA) Reaches New 12-Month High at $1,629.18

First Citizens BancShares, Inc. (NASDAQ:FCNCA) shares reached a new 52-week high on Thursday . The company traded as high as $1,629.18 and last traded at $1,628.04, with a volume of 28599 shares traded. The stock had previously closed at $1,616.88.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating on shares of First Citizens BancShares in a research report on Monday, January 15th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. UBS Group boosted their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Wedbush reissued an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus target price of $1,667.71.

First Citizens BancShares Price Performance

The stock’s 50-day simple moving average is $1,524.96 and its two-hundred day simple moving average is $1,441.35. 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 firm has a market cap of $23.74 billion, a P/E ratio of 2.06 and a beta of 0.88.

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 analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. Equities research analysts forecast that First Citizens BancShares, Inc. will post 177.52 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s payout ratio is 0.84%.

Insiders Place Their Bets

In other news, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,388 shares of company stock worth $1,825,220 in the last three months. Corporate insiders own 13.40% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after purchasing an additional 10 shares during the last quarter. GAMMA Investing LLC purchased a new position in First Citizens BancShares during the 4th quarter worth approximately $30,000. Lindbrook Capital LLC raised its position in First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after buying an additional 8 shares during the last quarter. Castleview Partners LLC purchased a new position in First Citizens BancShares during the 2nd quarter worth approximately $31,000. Finally, Principal Securities Inc. purchased a new position in First Citizens BancShares during the 4th quarter worth approximately $43,000. 61.18% of the stock is owned by hedge funds and other institutional investors.

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.