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 the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $19.53, for a total value of $136,710.00. Following the completion of the transaction, the insider directly owned 15,000 shares in the company, valued at $292,950. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded up $21.01 during trading hours on Thursday, reaching $2,120.58. 50,533 shares of the company’s stock were exchanged, compared to its average volume of 83,915. The firm has a fifty day moving average of $2,172.02 and a 200-day moving average of $2,045.14. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,296.30. The stock has a market cap of $23.95 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $56.68. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on FCNCA. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, July 24th. Fundamental Research set a $2,350.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 1st. Barclays raised 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 report on Monday, July 27th. Finally, Piper Sandler boosted their price objective on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,272.54.

Institutional Trading of First Citizens BancShares

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

First Citizens BancShares Company Profile

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.