Diane Morais Acquires 50 Shares of First Citizens BancShares (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Diane Morais acquired 50 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $2,168.11 per share, for a total transaction 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. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

First Citizens BancShares Trading Up 1.5%

First Citizens BancShares stock opened at $2,183.54 on Friday. The firm’s 50-day moving average is $2,143.12 and its 200-day moving average is $2,030.81. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,296.30. The company has a market cap of $24.65 billion, a P/E ratio of 11.67, a PEG ratio of 1.64 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.16 billion. On average, equities analysts expect that First Citizens BancShares, Inc. will post 190.06 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is 4.49%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of analyst reports. TD Cowen dropped 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. Piper Sandler boosted their target price on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Jefferies Financial Group restated a “hold” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a research report on Thursday, July 23rd. Weiss Ratings raised First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and an average price target of $2,278.31.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hiddenite Capital Partners LP acquired a new stake in First Citizens BancShares in the fourth quarter worth approximately $6,868,000. Check Capital Management Inc. CA raised its stake in shares of First Citizens BancShares by 21.0% in the 4th 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 in the last quarter. Barr E S & Co. boosted its stake 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 valued at $12,866,000 after buying an additional 1,495 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in First Citizens BancShares by 181.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,438 shares of the bank’s stock worth $3,087,000 after acquiring an additional 927 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in First Citizens BancShares in the fourth quarter worth about $5,226,000. 78.01% of the stock is currently owned by institutional investors.

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.