First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany Sells 1,000 Shares

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the completion of the sale, the director now owns 1,335 shares in the company, valued at approximately $2,345,955.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,686.76 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50-day moving average is $1,590.27 and its two-hundred day moving average is $1,486.43. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,810.03. The company has a market capitalization of $24.49 billion, a PE ratio of 9.36 and a beta of 0.89.

First Citizens BancShares Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.

Analysts Set New Price Targets

FCNCA has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. UBS Group raised their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target on the stock. Finally, Barclays raised their price target on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,829.90.

Hedge Funds Weigh In On First Citizens BancShares

A number of institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of First Citizens BancShares by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock valued at $419,000 after acquiring an additional 12 shares during the period. Xponance Inc. raised its stake in shares of First Citizens BancShares by 6.0% in the 3rd quarter. Xponance Inc. now owns 548 shares of the bank’s stock valued at $756,000 after acquiring an additional 31 shares during the period. Raymond James Financial Services Advisors Inc. raised 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 period. Ceredex Value Advisors LLC raised its stake in shares of First Citizens BancShares by 7.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 48,000 shares of the bank’s stock valued at $66,245,000 after acquiring an additional 3,475 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of First Citizens BancShares by 53.3% in 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. 61.18% of the stock is owned by hedge funds and other 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.