First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany Sells 2,000 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $1,453.96, for a total transaction of $2,907,920.00. Following the completion of the transaction, the director now owns 15,097 shares in the company, valued at $21,950,434.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Citizens BancShares Trading Down 1.9 %

Shares of First Citizens BancShares stock opened at $1,450.80 on Friday. The firm’s 50-day moving average price is $1,367.85 and its two-hundred day moving average price is $1,327.99. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.91. First Citizens BancShares, Inc. has a 12-month low of $505.84 and a 12-month high of $1,512.07.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $55.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $48.35 by $7.57. First Citizens BancShares had a net margin of 55.28% and a return on equity of 13.64%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.34 billion. On average, analysts forecast that First Citizens BancShares, Inc. will post 171.13 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $1.64 per share. This is an increase from First Citizens BancShares’s previous quarterly dividend of $0.75. This represents a $6.56 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, November 29th. First Citizens BancShares’s dividend payout ratio is currently 0.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FCNCA shares. UBS Group raised their price objective on shares of First Citizens BancShares from $1,490.00 to $1,780.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. StockNews.com started coverage on shares of First Citizens BancShares in a research report on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. began coverage on shares of First Citizens BancShares in a research report on Wednesday, September 20th. They set an “overweight” rating and a $1,850.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Friday, November 3rd. Finally, Citigroup assumed coverage on shares of First Citizens BancShares in a report on Friday, September 29th. They set a “neutral” rating and a $1,520.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,625.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FCNCA. Vanguard Group Inc. lifted its stake in shares of First Citizens BancShares by 106.0% in the 1st quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock valued at $735,855,000 after acquiring an additional 568,929 shares during the last quarter. Invesco Ltd. boosted its position in First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock worth $246,949,000 after buying an additional 196,851 shares during the period. Sessa Capital IM L.P. bought a new stake in First Citizens BancShares during the 1st quarter worth approximately $158,509,000. Imprint Wealth LLC acquired a new position in First Citizens BancShares in the 2nd quarter valued at approximately $15,016,000. Finally, State Street Corp raised its stake in shares of First Citizens BancShares by 53.7% during the first quarter. State Street Corp now owns 402,593 shares of the bank’s stock valued at $267,966,000 after acquiring an additional 140,626 shares during the last quarter. Institutional investors own 62.73% 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.