First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany Sells 516 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 516 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the sale, the director now owns 819 shares of the company’s stock, valued at approximately $1,433,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded down $13.50 on Tuesday, reaching $1,712.33. 73,214 shares of the company were exchanged, compared to its average volume of 82,463. The company has a 50-day moving average of $1,603.82 and a 200-day moving average of $1,495.91. 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 market cap of $24.86 billion, a price-to-earnings ratio of 9.51 and a beta of 0.86. First Citizens BancShares, Inc. has a 1-year low of $1,042.69 and a 1-year high of $1,810.03.

First Citizens BancShares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in shares of First Citizens BancShares by 67.5% in the first quarter. Sei Investments Co. now owns 6,067 shares of the bank’s stock valued at $9,921,000 after buying an additional 2,444 shares in the last quarter. Forsta AP Fonden grew its stake in First Citizens BancShares by 33.3% in the 1st quarter. Forsta AP Fonden now owns 2,400 shares of the bank’s stock valued at $3,924,000 after acquiring an additional 600 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in First Citizens BancShares in the 1st quarter valued at about $659,000. Empowered Funds LLC purchased a new position in First Citizens BancShares during the 1st quarter valued at about $263,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in First Citizens BancShares by 13.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 183 shares of the bank’s stock worth $299,000 after acquiring an additional 22 shares during the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $2,100.00 price objective (up previously from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. DA Davidson restated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. UBS Group boosted their price objective on 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. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

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.