First Citizens BancShares, Inc. (NASDAQ:FCNCA) Major Shareholder Olivia Britton Holding Purchases 409 Shares

Key Points

• Olivia Britton Holding, a major shareholder of First Citizens BancShares, Inc., purchased 409 shares at an average cost of $1,630.00 on August 7th, increasing their position by 30.18%.
• First Citizens BancShares recently declared a $1.95 quarterly dividend to be paid on September 15th, representing an annual yield of 0.4%.
• The bank reported earnings per share of $44.78 for the last quarter, surpassing estimates by $5.70, and had a revenue of $2.38 billion.

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) major shareholder Olivia Britton Holding acquired 409 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares of the company's stock, valued at approximately $2,875,320. This represents a 30.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Olivia Britton Holding also recently made the following trade(s):

• On Tuesday, July 29th, Olivia Britton Holding bought 66 shares of First Citizens BancShares stock. The stock was purchased at an average price of $1,735.00 per share, with a total value of $114,510.00.

First Citizens BancShares Trading Up 1.1%

FCNCA stock traded up $20.50 during trading on Thursday, hitting $1,925.24. The company had a trading volume of 123,477 shares, compared to its average volume of 119,577. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $1,972.61 and a 200-day moving average price of $1,915.91. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 11.36 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping the consensus estimate of $39.08 by $5.70. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is presently 4.60%.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. bought a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $391,000. Alamea Verwaltungs GmbH acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at $423,000. Raymond James Financial Inc. grew its holdings in shares of First Citizens BancShares by 6.8% in the 2nd quarter. Raymond James Financial Inc. now owns 21,283 shares of the bank's stock valued at $41,640,000 after buying an additional 1,352 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at $18,743,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of First Citizens BancShares by 5.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,299 shares of the bank's stock valued at $8,411,000 after buying an additional 235 shares during the period. Institutional investors own 78.01% of the company's stock.

Analysts Set New Price Targets

FCNCA has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 target price for the company. Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the company a "neutral" rating in a research note on Monday, July 28th. Cowen reiterated a "buy" rating on shares of First Citizens BancShares in a research note on Monday, July 28th. UBS Group reiterated a "buy" rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Finally, Wall Street Zen cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Hold" and a consensus price target of $2,291.17.

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.