First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Buys $197,688.00 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) CFO Craig L. Nix bought 300 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was acquired at an average price of $658.96 per share, for a total transaction of $197,688.00. Following the acquisition, the chief financial officer now directly owns 805 shares in the company, valued at $530,462.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

FCNCA stock traded up $5.85 during trading on Tuesday, reaching $655.31. The stock had a trading volume of 1,108 shares, compared to its average volume of 102,315. First Citizens BancShares, Inc. has a one year low of $610.67 and a one year high of $947.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50 day moving average price of $686.40. The stock has a market cap of $10.47 billion, a P/E ratio of 11.59 and a beta of 1.06.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The bank reported $18.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $13.32 by $5.63. First Citizens BancShares had a net margin of 22.17% and a return on equity of 15.76%. During the same period in the prior year, the business posted $14.53 earnings per share. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 66.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, May 27th. First Citizens BancShares’s payout ratio is 3.35%.

A number of hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership bought a new position in shares of First Citizens BancShares during the 3rd quarter valued at approximately $2,361,000. Allspring Global Investments Holdings LLC bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $83,387,000. Janus Henderson Group PLC grew its position in shares of First Citizens BancShares by 183.0% during the 3rd quarter. Janus Henderson Group PLC now owns 1,149 shares of the bank’s stock valued at $969,000 after acquiring an additional 743 shares during the period. New York State Common Retirement Fund grew its position in shares of First Citizens BancShares by 6.1% during the 3rd quarter. New York State Common Retirement Fund now owns 8,689 shares of the bank’s stock valued at $7,326,000 after acquiring an additional 496 shares during the period. Finally, Egerton Capital UK LLP grew its position in shares of First Citizens BancShares by 95.2% during the 3rd quarter. Egerton Capital UK LLP now owns 271,253 shares of the bank’s stock valued at $228,712,000 after acquiring an additional 132,283 shares during the period. 39.07% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on FCNCA. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, April 28th. Piper Sandler lowered their target price on shares of First Citizens BancShares from $1,000.00 to $900.00 in a report on Friday, March 25th. Finally, Zacks Investment Research lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $964.00.

First Citizens BancShares Company Profile (Get Rating)

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.

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