First Citizens BancShares (NASDAQ:FCNCA) Hits New 52-Week High at $1,652.04

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $1,652.04 and last traded at $1,647.03, with a volume of 8782 shares traded. The stock had previously closed at $1,622.75.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a "buy" rating and a $1,950.00 price target on the stock. Wedbush restated an "outperform" rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. DA Davidson reiterated a "neutral" rating and issued a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Barclays initiated coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They set an "equal weight" rating and a $1,850.00 target price on the stock. Finally, 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 report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, First Citizens BancShares has a consensus rating of "Hold" and an average price target of $1,768.63.

First Citizens BancShares Price Performance

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The business's 50-day moving average is $1,566.98 and its two-hundred day moving average is $1,472.16. The company has a market capitalization of $23.56 billion, a P/E ratio of 2.06 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts' consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, analysts predict that First Citizens BancShares, Inc. will post 177.19 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $1.64 per share. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.40%. First Citizens BancShares's payout ratio is currently 0.84%.

Insiders Place Their Bets

In other news, insider Hope Holding Bryant acquired 300 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the purchase, the insider now owns 1,978 shares in the company, valued at $2,601,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other First Citizens BancShares news, major shareholder Olivia Britton Holding acquired 466 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now owns 121,694 shares in the company, valued at $160,027,610. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hope Holding Bryant bought 300 shares of the stock in a transaction on Wednesday, February 21st. The shares were acquired at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the acquisition, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,388 shares of company stock valued at $1,825,220. Company insiders own 12.85% of the company's stock.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mather Group LLC. bought a new position in shares of First Citizens BancShares in the first quarter worth approximately $31,000. Blue Trust Inc. lifted its holdings in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank's stock worth $27,000 after acquiring an additional 10 shares during the last quarter. GAMMA Investing LLC purchased a new position in First Citizens BancShares in the fourth quarter worth $30,000. Lindbrook Capital LLC increased its stake in First Citizens BancShares by 53.3% in the third 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 last quarter. Finally, Principal Securities Inc. purchased a new stake in First Citizens BancShares during the fourth quarter valued at about $43,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

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.