First Citizens BancShares (NASDAQ:FCNCA) Chairman Frank B. Holding, Jr. purchased 200 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were acquired at an average price of $390.00 per share, for a total transaction of $78,000.00. Following the completion of the purchase, the chairman now directly owns 311,051 shares in the company, valued at approximately $121,309,890. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of FCNCA stock opened at $442.80 on Friday. The company has a market cap of $5.32 billion, a P/E ratio of 13.92 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. First Citizens BancShares has a 12 month low of $323.74 and a 12 month high of $463.44.
First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Wednesday, April 25th. The bank reported $8.35 EPS for the quarter. First Citizens BancShares had a net margin of 21.22% and a return on equity of 11.53%. The company had revenue of $437.55 million for the quarter.
Separately, BidaskClub upgraded shares of First Citizens BancShares from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in First Citizens BancShares by 0.9% in the 4th quarter. BlackRock Inc. now owns 509,636 shares of the bank’s stock worth $205,382,000 after purchasing an additional 4,740 shares in the last quarter. Wells Fargo & Company MN lifted its stake in First Citizens BancShares by 2.6% in the 4th quarter. Wells Fargo & Company MN now owns 219,883 shares of the bank’s stock worth $88,612,000 after purchasing an additional 5,518 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in First Citizens BancShares by 4.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 197,124 shares of the bank’s stock worth $81,595,000 after purchasing an additional 7,606 shares in the last quarter. Northern Trust Corp lifted its stake in First Citizens BancShares by 0.4% in the 1st quarter. Northern Trust Corp now owns 95,738 shares of the bank’s stock worth $39,562,000 after purchasing an additional 396 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in First Citizens BancShares by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 79,169 shares of the bank’s stock worth $31,905,000 after purchasing an additional 2,011 shares in the last quarter. Institutional investors and hedge funds own 44.84% 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 banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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