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 that occurred on Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the sale, the director now directly owns 1,335 shares of the company’s stock, valued at $2,345,955.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

First Citizens BancShares Trading Down 0.6 %

Shares of FCNCA stock opened at $1,675.99 on Thursday. The company’s fifty day simple moving average is $1,593.32 and its two-hundred day simple moving average is $1,487.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. First Citizens BancShares, Inc. has a 1 year low of $945.32 and a 1 year high of $1,810.03. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 9.30 and a beta of 0.89.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.39%. First Citizens BancShares’s payout ratio is 3.64%.

Analyst Ratings Changes

FCNCA has been the subject of a number of recent research reports. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Barclays boosted their price objective on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. DA Davidson reissued a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. Finally, The Goldman Sachs Group started coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,829.90.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its holdings in shares of First Citizens BancShares by 4.1% in the third quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after purchasing an additional 12 shares during the period. Xponance Inc. increased its holdings in shares of First Citizens BancShares by 6.0% in the third quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after purchasing an additional 31 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of First Citizens BancShares by 11.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 573 shares of the bank’s stock worth $791,000 after purchasing an additional 60 shares during the period. Ceredex Value Advisors LLC increased its holdings in shares of First Citizens BancShares by 7.8% in the third quarter. Ceredex Value Advisors LLC now owns 48,000 shares of the bank’s stock worth $66,245,000 after purchasing an additional 3,475 shares during the period. Finally, Lindbrook Capital LLC increased 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 worth $32,000 after purchasing an additional 8 shares during the period. 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.