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 the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the transaction, the director now owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,675.99 on Thursday. First Citizens BancShares, Inc. has a 52-week low of $945.32 and a 52-week high of $1,810.03. The firm has a market capitalization of $24.34 billion, a price-to-earnings ratio of 9.30 and a beta of 0.89. The company has a fifty day simple moving average of $1,593.32 and a 200-day simple moving average of $1,487.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.64 per share. 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 payout ratio is 3.64%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $2,100.00 target price (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday. Finally, DA Davidson restated a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Six equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $1,829.90.

Institutional Investors Weigh In On First Citizens BancShares

A number of large investors have recently modified their holdings of the business. Mather Group LLC. purchased a new stake in shares of First Citizens BancShares in the first quarter valued at about $31,000. Blue Trust Inc. grew its holdings in shares of First Citizens BancShares by 100.0% in the fourth 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 period. GAMMA Investing LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $30,000. Lindbrook Capital LLC grew its holdings in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $43,000. Hedge funds and other 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.