Rep. Thomas H. Kean, Jr. Purchases Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of First Citizens BancShares, Inc. NASDAQ: FCNCA. In a filing disclosed on May 15th, the Representative disclosed that they had bought between $1,001 and $15,000 in First Citizens BancShares stock on April 10th. The trade occurred in the Representative's "KEAN FAMILY PARTNERSHIP" account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Franklin Resources NYSE: BEN on 4/28/2025.
• Purchased $1,001 - $15,000 in shares of Fiserv NYSE: FI on 4/24/2025.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/24/2025.
• Purchased $1,001 - $15,000 in shares of Prologis NYSE: PLD on 4/24/2025.
• Purchased $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 4/24/2025.
• Purchased $1,001 - $15,000 in shares of First Citizens BancShares NASDAQ: FCNCA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Fortive NYSE: FTV on 4/10/2025.
• Purchased $1,001 - $15,000 in shares of Canadian Pacific Kansas City NYSE: CP on 4/10/2025.
• Purchased $1,001 - $15,000 in shares of Illumina NASDAQ: ILMN on 4/1/2025.
• Purchased $1,001 - $15,000 in shares of nVent Electric NYSE: NVT on 4/1/2025.

First Citizens BancShares Trading Down 0.8%

Shares of FCNCA traded down $15.79 during trading hours on Monday, reaching $1,937.79. 42,434 shares of the company traded hands, compared to its average volume of 89,259. The stock's fifty day moving average price is $1,784.78 and its 200 day moving average price is $2,009.37. 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 firm has a market cap of $25.75 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares's dividend payout ratio (DPR) is 4.47%.

Analyst Ratings Changes

Several brokerages recently issued reports on FCNCA. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. Barclays dropped their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Cowen started coverage on First Citizens BancShares in a report on Wednesday. They issued a "buy" rating for the company. TD Cowen began coverage on shares of First Citizens BancShares in a research note on Thursday. They issued a "buy" rating and a $2,400.00 price objective for the company. Finally, StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,336.58.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors have recently bought and sold shares of FCNCA. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares during the last quarter. Financial Life Planners acquired a new stake in First Citizens BancShares in the fourth quarter worth about $33,000. Hemington Wealth Management grew 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 acquiring an additional 6 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of First Citizens BancShares during the first quarter worth about $35,000. Finally, Duncker Streett & Co. Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $36,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is owned by company insiders.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey's 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2027. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey's 7th Congressional District. He declared candidacy for the 2026 election. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.