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

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

First Citizens BancShares Trading Down 1.0 %

Shares of FCNCA stock opened at $1,738.71 on Friday. The company has a market cap of $23.61 billion, a P/E ratio of 9.18, a PEG ratio of 0.94 and a beta of 0.81. The stock has a 50 day simple moving average of $2,092.22 and a two-hundred day simple moving average of $2,063.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,515.02 and a fifty-two week high of $2,412.93.

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

First Citizens BancShares Announces Dividend

The company 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 4.12%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of recent research reports. UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Finally, Barclays lifted their price objective on 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently modified their holdings of FCNCA. Norges Bank bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $298,426,000. JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after acquiring an additional 103,137 shares in the last quarter. Capital International Investors increased its holdings in shares of First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after acquiring an additional 75,785 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $147,341,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Citizens BancShares by 83.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank’s stock valued at $227,198,000 after acquiring an additional 48,994 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

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.