Frank Holding, Jr. Acquires 225 Shares of First Citizens BancShares (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CEO Frank Holding, Jr. acquired 225 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $1,751.95 per share, with a total value of $394,188.75. Following the completion of the purchase, the chief executive officer owned 63,547 shares of the company’s stock, valued at $111,331,166.65. This trade represents a 0.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

First Citizens BancShares Stock Up 1.3%

Shares of First Citizens BancShares stock opened at $2,100.68 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,232.21. The business has a fifty day simple moving average of $1,974.23 and a 200 day simple moving average of $2,003.71. The stock has a market cap of $24.35 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm earned $37.79 earnings per share. Research analysts predict that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is 4.83%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their target price on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. Finally, Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus price target of $2,215.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCNCA. Northwestern Mutual Wealth Management Co. grew its stake in First Citizens BancShares by 117,518.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after acquiring an additional 205,658 shares during the period. Norges Bank bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $116,565,000. River Road Asset Management LLC lifted its holdings in shares of First Citizens BancShares by 574.0% in the fourth quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock valued at $118,903,000 after purchasing an additional 47,182 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of First Citizens BancShares by 2,057.4% in the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after purchasing an additional 45,304 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of First Citizens BancShares by 13,512.7% in the fourth quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock valued at $82,679,000 after purchasing an additional 38,241 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.