First Citizens BancShares (NASDAQ:FCNCA) Shares Down 5.7%

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) traded down 5.7% on Friday . The stock traded as low as $515.99 and last traded at $515.99. 20,967 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 103,531 shares. The stock had previously closed at $547.46.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCNCA. UBS Group began coverage on First Citizens BancShares in a research note on Wednesday. They issued a “sell” rating and a $538.00 target price on the stock. StockNews.com began coverage on First Citizens BancShares in a research note on Thursday. They issued a “hold” rating on the stock.

First Citizens BancShares Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $7.39 billion, a P/E ratio of 7.54 and a beta of 0.94. The business has a 50 day moving average of $740.29 and a 200-day moving average of $783.50.

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

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, February 27th. First Citizens BancShares’s payout ratio is 4.45%.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. acquired 1,020 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was purchased at an average cost of $722.51 per share, for a total transaction of $736,960.20. Following the acquisition, the chief executive officer now owns 93,232 shares of the company’s stock, valued at $67,361,052.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Frank B. Holding, Jr. acquired 1,020 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was purchased at an average cost of $722.51 per share, for a total transaction of $736,960.20. Following the acquisition, the chief executive officer now owns 93,232 shares of the company’s stock, valued at $67,361,052.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 235 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was purchased at an average price of $650.00 per share, with a total value of $152,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 93,467 shares in the company, valued at approximately $60,753,550. The disclosure for this purchase can be found here. Insiders acquired a total of 1,583 shares of company stock worth $1,110,798 over the last ninety days. 13.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors have recently bought and sold shares of FCNCA. Victory Capital Management Inc. raised its position in First Citizens BancShares by 11.7% during the 4th quarter. Victory Capital Management Inc. now owns 7,808 shares of the bank’s stock valued at $5,921,000 after purchasing an additional 820 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of First Citizens BancShares by 145.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 125 shares of the bank’s stock worth $94,000 after acquiring an additional 74 shares in the last quarter. Natixis bought a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $2,958,000. Macquarie Group Ltd. raised its position in shares of First Citizens BancShares by 27.7% in the 4th quarter. Macquarie Group Ltd. now owns 932 shares of the bank’s stock worth $707,000 after acquiring an additional 202 shares in the last quarter. Finally, Equitable Trust Co. raised its position in shares of First Citizens BancShares by 22.8% in the 4th quarter. Equitable Trust Co. now owns 328 shares of the bank’s stock worth $249,000 after acquiring an additional 61 shares in the last quarter. 66.53% of the stock is currently owned by hedge funds and other institutional investors.

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.