First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany Sells 1,000 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the sale, the director now directly owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,686.76 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,810.03. The stock’s 50-day moving average is $1,590.27 and its two-hundred day moving average is $1,486.43. The firm has a market cap of $24.49 billion, a P/E ratio of 9.36 and a beta of 0.89.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, May 30th. First Citizens BancShares’s payout ratio is currently 3.64%.

Analysts Set New Price Targets

Several research firms recently weighed in on FCNCA. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday. UBS Group upped their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. Finally, DA Davidson reissued a “neutral” rating and set a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,829.90.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FCNCA. Raymond James Financial Services Advisors Inc. increased its holdings in shares of First Citizens BancShares by 145.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after acquiring an additional 833 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in shares of First Citizens BancShares during the 1st quarter valued at about $3,695,000. Mackenzie Financial Corp increased its holdings in shares of First Citizens BancShares by 89.3% during the 4th quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock valued at $2,716,000 after acquiring an additional 903 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of First Citizens BancShares by 3,091.6% during the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock valued at $34,203,000 after acquiring an additional 23,156 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in shares of First Citizens BancShares by 11.7% during the 4th quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock valued at $80,602,000 after acquiring an additional 5,952 shares during the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

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.