First Citizens BancShares (NASDAQ:FCNCA) Sets New 12-Month Low at $566.24

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) hit a new 52-week low on Monday . The company traded as low as $566.24 and last traded at $567.55, with a volume of 2644 shares. The stock had previously closed at $616.18.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 4th.

First Citizens BancShares Stock Performance

The firm has a market capitalization of $8.21 billion, a P/E ratio of 8.38 and a beta of 0.94. The stock has a fifty day simple moving average of $754.35 and a two-hundred day simple moving average of $789.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.82 and a quick ratio of 0.82.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last issued its earnings results on Thursday, January 26th. The bank reported $20.94 earnings per share for the quarter, missing analysts’ consensus estimates of $23.34 by ($2.40). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.10 billion. First Citizens BancShares had a return on equity of 13.07% and a net margin of 19.79%. On average, research analysts predict that First Citizens BancShares, Inc. will post 89.53 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, February 27th. This represents a $3.00 annualized dividend and a dividend yield of 0.53%. First Citizens BancShares’s dividend payout ratio is 4.45%.

Insider Activity

In other news, CEO Frank B. Holding, Jr. acquired 1,020 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was purchased at an average price of $722.51 per share, for a total transaction of $736,960.20. Following the completion of the acquisition, the chief executive officer now directly owns 93,232 shares in the company, valued at approximately $67,361,052.32. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Frank B. Holding, Jr. acquired 1,020 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was purchased at an average price of $722.51 per share, for a total transaction of $736,960.20. Following the completion of the acquisition, the chief executive officer now directly owns 93,232 shares in the company, valued at approximately $67,361,052.32. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig L. Nix acquired 70 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were purchased at an average price of $710.04 per share, with a total value of $49,702.80. Following the acquisition, the chief financial officer now owns 1,046 shares of the company’s stock, valued at $742,701.84. The disclosure for this purchase can be found here. Insiders bought a total of 1,583 shares of company stock worth $1,110,798 over the last quarter. 13.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FCNCA. Raymond James & Associates boosted its position in shares of First Citizens BancShares by 19.9% during the first quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock valued at $1,970,000 after buying an additional 491 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of First Citizens BancShares during the first quarter valued at approximately $207,000. US Bancorp DE boosted its position in shares of First Citizens BancShares by 277.0% during the first quarter. US Bancorp DE now owns 475 shares of the bank’s stock valued at $317,000 after buying an additional 349 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of First Citizens BancShares by 21.0% during the first quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock valued at $341,000 after buying an additional 89 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of First Citizens BancShares during the first quarter valued at approximately $162,000. Hedge funds and other institutional investors own 66.53% of the company’s stock.

About First Citizens BancShares

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First Citizens BancShares, Inc is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks.