First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Free Report) CEO Frank Holding, Jr. acquired 225 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $1,751.95 per share, with a total value of $394,188.75. Following the completion of the transaction, the chief executive officer directly owned 63,547 shares in the company, valued at $111,331,166.65. The trade was a 0.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
First Citizens BancShares Stock Performance
FCNCA stock traded down $0.85 during trading on Monday, reaching $2,074.25. The company had a trading volume of 95,359 shares, compared to its average volume of 90,590. The firm has a 50-day simple moving average of $1,965.38 and a 200-day simple moving average of $1,999.85. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21.
First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period last year, the business earned $37.79 EPS. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.
First Citizens BancShares Announces Dividend
Hedge Funds Weigh In On First Citizens BancShares
Institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC purchased a new position in First Citizens BancShares during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares during the 3rd quarter worth approximately $27,000. Harbor Investment Advisory LLC raised its position in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after buying an additional 9 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after buying an additional 14 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after buying an additional 6 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on FCNCA. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods lowered their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price for the company. in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2,215.91.
Check Out Our Latest Stock Report on First Citizens BancShares
About First Citizens BancShares
First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.
First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.
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