Insider Buying: First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Buys 750 Shares of Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) Director Robert T. Newcomb acquired 750 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was purchased at an average price of $669.55 per share, with a total value of $502,162.50. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $669,550. The acquisition was disclosed in a filing with the SEC, which is available through this link.

NASDAQ:FCNCA traded down $8.50 during trading hours on Monday, hitting $643.10. 2,618 shares of the company’s stock traded hands, compared to its average volume of 158,703. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 11.63 and a beta of 1.06. First Citizens BancShares, Inc. has a twelve month low of $610.67 and a twelve month high of $947.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a fifty day moving average price of $678.37.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The bank reported $18.95 earnings per share for the quarter, beating the consensus estimate of $13.32 by $5.63. First Citizens BancShares had a return on equity of 15.76% and a net margin of 22.17%. During the same quarter last year, the business earned $14.53 EPS. As a group, research analysts predict that First Citizens BancShares, Inc. will post 63.22 EPS for the current year.

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

A number of large investors have recently bought and sold shares of FCNCA. Egerton Capital UK LLP increased its position in First Citizens BancShares by 147.5% in the 1st quarter. Egerton Capital UK LLP now owns 837,088 shares of the bank’s stock worth $557,166,000 after purchasing an additional 498,838 shares during the last quarter. BlackRock Inc. increased its position in First Citizens BancShares by 32.7% in the 3rd quarter. BlackRock Inc. now owns 693,602 shares of the bank’s stock worth $584,823,000 after purchasing an additional 170,913 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in First Citizens BancShares in the 1st quarter worth about $96,260,000. Allspring Global Investments Holdings LLC acquired a new position in First Citizens BancShares in the 4th quarter worth about $83,387,000. Finally, Invesco Ltd. increased its position in First Citizens BancShares by 101.3% in the 3rd quarter. Invesco Ltd. now owns 183,252 shares of the bank’s stock worth $154,513,000 after purchasing an additional 92,205 shares during the last quarter. 39.07% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on FCNCA shares. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, April 28th. Piper Sandler reduced their target price on First Citizens BancShares from $1,000.00 to $900.00 in a report on Friday, March 25th. Finally, Zacks Investment Research downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday, April 29th. 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 company. According to MarketBeat.com, the stock presently has an average 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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