Ellen R. Alemany Sells 516 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 516 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total value of $903,000.00. Following the completion of the transaction, the director now owns 819 shares in the company, valued at approximately $1,433,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,731.92 on Thursday. First Citizens BancShares, Inc. has a fifty-two week low of $1,074.06 and a fifty-two week high of $1,810.03. The firm’s fifty day moving average price is $1,609.57 and its 200-day moving average price is $1,500.38. The stock has a market cap of $25.16 billion, a P/E ratio of 9.61 and a beta of 0.86. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCNCA. Keefe, Bruyette & Woods reissued an “outperform” rating and issued 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. Barclays raised their price target on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. DA Davidson reissued a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Finally, Piper Sandler downgraded First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,829.90.

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors have recently modified their holdings of FCNCA. Commonwealth Equity Services LLC grew its holdings in shares of First Citizens BancShares by 4.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock valued at $419,000 after purchasing an additional 12 shares during the last quarter. Xponance Inc. increased its holdings in shares of First Citizens BancShares by 6.0% in the third quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after buying an additional 31 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of First Citizens BancShares by 11.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 573 shares of the bank’s stock valued at $791,000 after acquiring an additional 60 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after acquiring an additional 8 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in First Citizens BancShares by 13.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 182 shares of the bank’s stock worth $251,000 after acquiring an additional 22 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors.

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.