First Citizens BancShares (NASDAQ:FCNCA) Reaches New 52-Week High at $1,652.04

First Citizens BancShares, Inc. (NASDAQ:FCNCA)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $1,652.04 and last traded at $1,647.03, with a volume of 8782 shares. The stock had previously closed at $1,622.75.

Analyst Ratings Changes

Several analysts recently weighed in on FCNCA shares. DA Davidson reiterated a “neutral” rating and issued a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. UBS Group raised their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, Barclays began coverage on shares of First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $1,768.63.

First Citizens BancShares Stock Up 0.8 %

The firm has a market cap of $23.76 billion, a PE ratio of 2.07 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a 50 day moving average price of $1,566.98 and a 200-day moving average price of $1,472.16.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Research analysts forecast that First Citizens BancShares, Inc. will post 177.19 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.40%. First Citizens BancShares’s payout ratio is currently 0.84%.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the acquisition, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Insiders have acquired 1,388 shares of company stock valued at $1,825,220 over the last quarter. 12.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of First Citizens BancShares by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,017,655 shares of the bank’s stock valued at $1,444,022,000 after acquiring an additional 6,906 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of First Citizens BancShares by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 262,267 shares of the bank’s stock worth $361,956,000 after buying an additional 13,658 shares during the last quarter. Wellington Management Group LLP increased its position in First Citizens BancShares by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after acquiring an additional 41,793 shares during the period. FMR LLC raised its stake in First Citizens BancShares by 17.2% during the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after acquiring an additional 27,729 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in First Citizens BancShares by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 186,822 shares of the bank’s stock valued at $265,120,000 after acquiring an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.