First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Craig L. Nix Acquires 17 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Craig L. Nix acquired 17 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,755.93 on Thursday. The firm has a 50-day moving average of $2,099.36 and a 200-day moving average of $2,065.44. The company has a market cap of $23.84 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a one year low of $1,515.02 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.44%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Hedge Funds Weigh In On First Citizens BancShares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp boosted its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares during the period. Mather Group LLC. boosted its position in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Private Advisor Group LLC boosted its position in shares of First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after acquiring an additional 5 shares during the period. Exencial Wealth Advisors LLC boosted its position in shares of First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after acquiring an additional 5 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock valued at $328,000 after acquiring an additional 5 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Truist Financial upped their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and an average price target of $2,323.50.

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.