Craig L. Nix Purchases 17 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock

First Citizens BancShares, Inc. (NASDAQ:FCNCA) CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Citizens BancShares Stock Down 0.2 %

Shares of FCNCA traded down $3.38 during trading hours on Tuesday, hitting $1,728.36. The company had a trading volume of 125,229 shares, compared to its average volume of 71,099. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $23.47 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a one year low of $1,505.73 and a one year high of $2,412.93. The company’s fifty day moving average price is $2,107.06 and its two-hundred day moving average price is $2,067.45.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 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%. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.45%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Institutional Trading of First Citizens BancShares

A number of institutional investors have recently made changes to their positions in FCNCA. Financial Life Planners purchased a new stake in First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management lifted its stake in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at $36,000. Mather Group LLC. increased its position in shares of First Citizens BancShares by 38.5% in the 4th 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. Finally, Asset Planning Inc purchased a new position in First Citizens BancShares in the 4th quarter worth $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FCNCA shares. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. upped their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Company Profile

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.