First Citizens BancShares (NASDAQ:FCNCA) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a research note released on Monday morning.

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reissued an outperform rating and issued a $2,100.00 target price (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Barclays raised their target price on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an equal weight rating in a research note on Friday, April 26th. UBS Group raised their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a buy rating in a research note on Tuesday, January 30th. 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. Finally, Wedbush reaffirmed an outperform rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $1,829.90.

First Citizens BancShares Trading Up 2.2 %

NASDAQ:FCNCA opened at $1,713.50 on Monday. First Citizens BancShares has a twelve month low of $945.32 and a twelve month high of $1,810.03. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average price of $1,597.17 and a two-hundred day moving average price of $1,489.32. The company has a market cap of $24.88 billion, a P/E ratio of 9.51 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s payout ratio is currently 3.64%.

Insider Buying and Selling

In related news, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated 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 transaction, the director now owns 1,335 shares in the company, valued at $2,345,955.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Olivia Britton Holding bought 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,388 shares of company stock worth $1,825,220 and have sold 2,600 shares worth $4,458,964. 13.40% of the stock is owned by company insiders.

Institutional Trading of First Citizens BancShares

Several hedge funds and other institutional investors have recently made changes to their positions in FCNCA. Commonwealth Equity Services LLC grew its holdings in shares of First Citizens BancShares by 4.1% during 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 last quarter. Xponance Inc. grew its holdings in shares of First Citizens BancShares by 6.0% during 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 last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of First Citizens BancShares by 11.7% during 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 last quarter. Ceredex Value Advisors LLC grew its holdings in shares of First Citizens BancShares by 7.8% during 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 last quarter. Finally, Lindbrook Capital LLC grew its holdings 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.

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.