First Citizens BancShares (NASDAQ:FCNCA) Director Ellen Alemany Purchases 300 Shares of Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen Alemany bought 300 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director owned 300 shares in the company, valued at $300,000. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Citizens BancShares Stock Down 3.0%

Shares of FCNCA opened at $1,789.22 on Tuesday. The firm has a market cap of $22.25 billion, a P/E ratio of 10.58 and a beta of 0.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The firm’s 50-day simple moving average is $1,807.98 and its 200 day simple moving average is $1,894.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%.The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. On average, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, November 28th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is 4.97%.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCNCA. Edgestream Partners L.P. acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $858,000. Kestra Private Wealth Services LLC grew its position in First Citizens BancShares by 4.9% in the first quarter. Kestra Private Wealth Services LLC now owns 429 shares of the bank’s stock valued at $795,000 after acquiring an additional 20 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in First Citizens BancShares by 11.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,741 shares of the bank’s stock worth $14,353,000 after acquiring an additional 800 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of First Citizens BancShares by 37.6% in the first quarter. Allianz Asset Management GmbH now owns 520 shares of the bank’s stock worth $964,000 after acquiring an additional 142 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of First Citizens BancShares in the first quarter worth about $4,606,000. 78.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FCNCA has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Cowen reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. Keefe, Bruyette & Woods decreased their target price on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Raymond James Financial set a $2,100.00 price target on shares of First Citizens BancShares in a research report on Tuesday, October 7th. Finally, Weiss Ratings cut First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.50.

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.