First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Sells $903,000.00 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total value of $903,000.00. Following the completion of the transaction, the director now directly owns 819 shares of the company’s stock, valued at approximately $1,433,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Citizens BancShares Trading Up 1.1 %

Shares of NASDAQ FCNCA opened at $1,731.92 on Thursday. First Citizens BancShares, Inc. has a 1-year low of $1,074.06 and a 1-year high of $1,810.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day moving average is $1,609.57 and its two-hundred day moving average is $1,500.38. The stock has a market capitalization of $25.16 billion, a P/E ratio of 9.61 and a beta of 0.86.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.64 per share. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a yield of 0.38%. First Citizens BancShares’s payout ratio is presently 3.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group started coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target on the stock. Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. DA Davidson reiterated a “neutral” rating and issued a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Wedbush reissued an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, UBS Group lifted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

Institutional Trading of First Citizens BancShares

A number of institutional investors have recently bought and sold shares of FCNCA. Blue Trust Inc. grew its stake in shares of First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares during the last quarter. ORG Partners LLC bought a new position in First Citizens BancShares in the 1st quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in First Citizens BancShares in the fourth quarter worth $30,000. Mather Group LLC. bought a new stake in shares of First Citizens BancShares during the first quarter worth $31,000. Finally, Lindbrook Capital LLC lifted its position in shares of First Citizens BancShares by 53.3% during 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 last quarter. 61.18% of the stock is currently owned by institutional investors.

About First Citizens BancShares

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.