First Citizens BancShares (NASDAQ:FCNCA) CEO Sells $10,257,316.74 in Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CEO Frank Holding, Jr. sold 5,346 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the sale, the chief executive officer owned 100,654 shares in the company, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Citizens BancShares Trading Down 0.1%

NASDAQ:FCNCA traded down $1.25 during mid-day trading on Tuesday, hitting $1,918.69. 56,560 shares of the company’s stock were exchanged, compared to its average volume of 65,003. The company has a 50 day simple moving average of $1,924.44 and a 200-day simple moving average of $1,977.59. The company has a current ratio of 1.00, a quick ratio of 1.03 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The firm has a market capitalization of $22.91 billion, a P/E ratio of 11.03, a PEG ratio of 1.48 and a beta of 0.63.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $37.79 EPS. As a group, research analysts expect that First Citizens BancShares, Inc. will post 176.04 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $2.10 per share. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.83%.

Analyst Ratings Changes

Several research firms recently commented on FCNCA. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a research report on Wednesday, April 8th. Weiss Ratings downgraded shares of First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Truist Financial boosted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2,202.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares in the 3rd quarter worth approximately $27,000. Harbor Investment Advisory LLC increased its stake in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after acquiring an additional 9 shares in the last quarter. UMB Bank n.a. increased its stake in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after acquiring an additional 8 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of First Citizens BancShares in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

About First Citizens BancShares

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.