First Citizens BancShares (NASDAQ:FCNCA) Director Diane Morais Purchases 50 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Diane Morais acquired 50 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the purchase, the director directly owned 100 shares of the company’s stock, valued at $216,811. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Citizens BancShares Stock Down 0.9%

First Citizens BancShares stock opened at $2,151.23 on Friday. The business has a fifty day moving average of $2,141.62 and a two-hundred day moving average of $2,029.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,296.30. The firm has a market cap of $24.29 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.66 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, beating the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. On average, analysts forecast that First Citizens BancShares, Inc. will post 190.06 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. TD Cowen cut their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Barclays upped their target price on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,350.00 to $2,450.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Hold” and a consensus target price of $2,278.31.

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after purchasing an additional 681 shares during the period. Empowered Funds LLC increased its stake in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after buying an additional 164 shares during the period. Focus Partners Wealth increased its stake in First Citizens BancShares by 5.2% in the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares during the period. EverSource Wealth Advisors LLC lifted its position in First Citizens BancShares by 31.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock worth $172,000 after buying an additional 21 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in First Citizens BancShares in the 2nd quarter worth approximately $260,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.