First Citizens BancShares (NASDAQ:FCNCA) Reaches New 12-Month High at $1,652.04

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $1,652.04 and last traded at $1,647.03, with a volume of 8782 shares changing hands. The stock had previously closed at $1,622.75.

Analyst Upgrades and Downgrades

FCNCA has been the topic of several analyst reports. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. DA Davidson restated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. UBS Group increased their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Barclays began coverage on shares of First Citizens BancShares in a report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $1,768.63.

First Citizens BancShares Trading Up 1.0 %

The company’s 50 day moving average price is $1,569.83 and its two-hundred day moving average price is $1,474.05. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $23.81 billion, a PE ratio of 2.09 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. As a group, analysts expect that First Citizens BancShares, Inc. will post 179.92 earnings per share for the current year.

Insider Buying and Selling at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Insiders purchased a total of 1,388 shares of company stock worth $1,825,220 over the last three months. Insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

Institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $31,000. Blue Trust Inc. lifted its position in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after buying an additional 10 shares during the last quarter. GAMMA Investing LLC purchased a new stake in First Citizens BancShares in the 4th quarter valued at $30,000. Lindbrook Capital LLC raised its position in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in First Citizens BancShares in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.