First Citizens BancShares (NASDAQ:FCNCA) Director Acquires $21,386.42 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ralph Mattox Snow III purchased 11 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $1,944.22 per share, for a total transaction of $21,386.42. Following the completion of the transaction, the director directly owned 121 shares of the company’s stock, valued at $235,250.62. This represents a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Citizens BancShares Price Performance

FCNCA opened at $1,858.82 on Thursday. The stock has a fifty day simple moving average of $2,062.74 and a two-hundred day simple moving average of $1,956.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The company has a market cap of $22.19 billion, a price-to-earnings ratio of 11.22 and a beta of 0.68. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Institutional Investors Weigh In On First Citizens BancShares

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in 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 in the last quarter. Norges Bank purchased a new position in shares of First Citizens BancShares in the second quarter worth $177,604,000. River Road Asset Management LLC lifted its holdings in shares of First Citizens BancShares by 574.0% during the fourth quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock valued at $118,903,000 after purchasing an additional 47,182 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of First Citizens BancShares by 2,057.4% during the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after purchasing an additional 45,304 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of First Citizens BancShares by 390.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after buying an additional 38,446 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FCNCA. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a research note on Wednesday, February 4th. TD Cowen cut their price target on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. Finally, The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

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.