Rep. Byron Donalds Purchases Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Representative Byron Donalds (R-Florida) recently bought shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA). In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in First Citizens BancShares stock on January 16th. The trade occurred in the Representative’s “MORAN WEALTH IRA” account.

Representative Byron Donalds also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of RLI (NYSE:RLI) on 1/21/2025.
• Purchased $1,001 – $15,000 in shares of GoDaddy (NYSE:GDDY) on 1/21/2025.
• Purchased $1,001 – $15,000 in shares of First Citizens BancShares (NASDAQ:FCNCA) on 1/21/2025.
• Purchased $1,001 – $15,000 in shares of GoDaddy (NYSE:GDDY) on 1/16/2025.
• Sold $1,001 – $15,000 in shares of RLI (NYSE:RLI) on 1/16/2025.
• Sold $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 1/16/2025.

First Citizens BancShares Trading Down 1.4 %

Shares of First Citizens BancShares stock opened at $2,125.31 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $2,146.68 and its 200-day simple moving average is $2,065.53. The stock has a market cap of $29.73 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 1-year low of $1,460.76 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 earnings per share for the quarter, topping 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%. Analysts predict that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm 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 $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. First Citizens BancShares’s payout ratio is 4.12%.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its stake in First Citizens BancShares by 14.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,451 shares of the bank’s stock worth $28,423,000 after purchasing an additional 1,675 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $6,462,000. Wells Fargo & Company MN grew its position in shares of First Citizens BancShares by 16.0% during the fourth quarter. Wells Fargo & Company MN now owns 17,601 shares of the bank’s stock worth $37,190,000 after buying an additional 2,434 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of First Citizens BancShares during the fourth quarter worth about $444,000. Finally, Yoffe Investment Management LLC purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $270,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of 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. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group increased their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida’s 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida’s 19th Congressional District. He declared candidacy for the 2026 election.

Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor’s degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

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.