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

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

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $1,712.33 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day moving average price is $1,606.26 and its two-hundred day moving average price is $1,498.75. First Citizens BancShares, Inc. has a one year low of $1,042.69 and a one year high of $1,810.03. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FCNCA. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $2,100.00 price target (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. DA Davidson reaffirmed 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 report on Monday, April 15th. Barclays boosted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, UBS Group boosted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $1,829.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth $29,000. Mather Group LLC. acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth $31,000. Blue Trust Inc. grew its holdings in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth $30,000. Finally, Lindbrook Capital LLC grew its holdings in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares in the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

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.