First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Free Report) 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 – Get Free Report) 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
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.
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