Insider Buying: First Citizens BancShares (NASDAQ:FCNCA) CEO Buys 335 Shares of Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CEO Frank Holding, Jr. acquired 335 shares of First Citizens BancShares stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $1,920.80 per share, for a total transaction of $643,468.00. Following the completion of the purchase, the chief executive officer owned 64,435 shares in the company, valued at approximately $123,766,748. The trade was a 0.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

First Citizens BancShares Trading Down 0.0%

Shares of NASDAQ:FCNCA traded down $0.85 during trading on Monday, reaching $2,074.25. The stock had a trading volume of 95,359 shares, compared to its average volume of 61,734. The firm’s fifty day moving average is $1,968.93 and its 200 day moving average is $2,001.80. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $37.79 EPS. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hiddenite Capital Partners LP acquired a new position in First Citizens BancShares during the fourth quarter worth $6,868,000. Citigroup Inc. raised its holdings in First Citizens BancShares by 23.4% during the third quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock worth $30,305,000 after buying an additional 3,215 shares during the last quarter. Check Capital Management Inc. CA raised its holdings in First Citizens BancShares by 21.0% during the fourth quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank’s stock worth $91,831,000 after buying an additional 7,424 shares during the last quarter. Founders Financial Alliance LLC raised its holdings in First Citizens BancShares by 484.7% during the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock worth $2,742,000 after buying an additional 1,270 shares during the last quarter. Finally, Barr E S & Co. raised its holdings in First Citizens BancShares by 33.2% during the fourth quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock worth $12,866,000 after buying an additional 1,495 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FCNCA shares. Weiss Ratings lowered shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. TD Cowen reduced 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 research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a research note on Wednesday, April 8th. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2,215.91.

First Citizens BancShares Company Profile

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.