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 11th. 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 4/10/2025.
• 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 NASDAQ FCNCA traded down $42.58 during mid-day trading on Wednesday, hitting $1,875.63. 12,318 shares of the stock traded hands, compared to its average volume of 88,893. The company has a market cap of $24.93 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $1,792.01 and a two-hundred day simple moving average of $2,008.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued 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 0.42%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors have recently bought and sold shares of FCNCA. Barclays PLC grew its stake in First Citizens BancShares by 19.2% in the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after purchasing an additional 1,158 shares during the period. JPMorgan Chase & Co. raised its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after acquiring an additional 18,501 shares during the period. Wedmont Private Capital purchased a new position in First Citizens BancShares in the fourth quarter valued at about $219,000. Cooper Financial Group bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $309,000. Finally, SeaCrest Wealth Management LLC increased its stake in shares of First Citizens BancShares by 20.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 214 shares of the bank's stock worth $453,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group initiated coverage on First Citizens BancShares in a report on Wednesday. They issued a "hold" rating and a $2,050.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of 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. Cowen started coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial upped their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their price objective on 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. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

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.