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

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 Price Performance

Shares of FCNCA stock traded down $42.58 during midday trading on Wednesday, reaching $1,875.63. 12,318 shares of the company were exchanged, compared to its average volume of 88,893. The company's 50 day moving average price is $1,792.01 and its two-hundred day moving average price is $2,008.81. The company has a market cap of $24.93 billion, a P/E ratio of 9.90, 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. 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 (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares's dividend payout ratio is presently 4.47%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Barclays cut their target price 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. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. StockNews.com cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Finally, TD Cowen started coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,340.33.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of First Citizens BancShares by 54.5% during the first 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 period. Financial Life Planners bought a new position in shares of First Citizens BancShares during the 4th quarter worth about $33,000. Hemington Wealth Management boosted its position in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. SVB Wealth LLC bought a new stake in First Citizens BancShares in the first quarter valued at about $35,000. Finally, Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Buying and Selling

In related news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction 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. The trade was a 1.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company's stock.

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.

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.