First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Craig L. Nix Buys 17 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First Citizens BancShares Stock Down 0.2 %

Shares of FCNCA traded down $3.38 during midday trading on Tuesday, reaching $1,728.36. The stock had a trading volume of 125,229 shares, compared to its average volume of 71,099. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.94 and a beta of 0.81. The company’s fifty day simple moving average is $2,107.06 and its two-hundred day simple moving average is $2,067.45. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1-year low of $1,505.73 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.45%. First Citizens BancShares’s payout ratio is currently 4.12%.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Old North State Trust LLC lifted its stake in First Citizens BancShares by 33.5% in the fourth quarter. Old North State Trust LLC now owns 371 shares of the bank’s stock valued at $784,000 after buying an additional 93 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $49,265,000. Carolinas Wealth Consulting LLC raised its position in First Citizens BancShares by 1,456.3% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 249 shares of the bank’s stock valued at $524,000 after purchasing an additional 233 shares during the last quarter. Yoffe Investment Management LLC acquired a new stake in First Citizens BancShares during the 4th quarter worth $270,000. Finally, Ascent Group LLC purchased a new position in First Citizens BancShares during the 4th quarter worth $201,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and an average price target of $2,323.50.

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.