Olivia Britton Holding Sells 7,000 Shares of First Citizens BancShares (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $19.53, for a total transaction of $136,710.00. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at $292,950. This represents a 31.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

First Citizens BancShares Trading Down 0.4%

NASDAQ:FCNCA opened at $2,111.89 on Friday. The company has a market cap of $23.84 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.60 and a beta of 0.60. The stock’s fifty day moving average price is $2,173.16 and its two-hundred day moving average price is $2,047.17. 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 debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating the consensus estimate of $0.41 by $56.68. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%. As a group, analysts expect that First Citizens BancShares, Inc. will post 192.11 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $2.10 per share. The ex-dividend date was Monday, August 31st. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.49%.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently bought and sold shares of FCNCA. Anchor Investment Management LLC grew its position in First Citizens BancShares by 20.8% in the second quarter. Anchor Investment Management LLC now owns 15,975 shares of the bank’s stock worth $33,241,000 after acquiring an additional 2,755 shares in the last quarter. National Pension Service raised its position in First Citizens BancShares by 28.4% during the second quarter. National Pension Service now owns 683 shares of the bank’s stock valued at $1,421,000 after purchasing an additional 151 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in First Citizens BancShares during the second quarter valued at about $229,000. Integrated Wealth Concepts LLC bought a new stake in First Citizens BancShares during the second quarter worth about $31,000. Finally, Community Bank N.A. boosted its holdings in shares of First Citizens BancShares by 90.3% in the 2nd quarter. Community Bank N.A. now owns 59 shares of the bank’s stock worth $123,000 after purchasing an additional 28 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCNCA. Weiss Ratings upgraded shares of First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Fundamental Research set a $2,350.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $2,300.00 target price on shares of First Citizens BancShares in a research note on Thursday, July 9th. Truist Financial raised 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 report on Tuesday, July 28th. Finally, Barclays boosted their price target 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 report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2,272.54.

About First Citizens BancShares

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.