First Citizens BancShares (NASDAQ:FCNCA) Trading 7% Higher

First Citizens BancShares, Inc. (NASDAQ:FCNCA)’s share price rose 7% during trading on Thursday . The company traded as high as $1,767.01 and last traded at $1,754.15. Approximately 43,439 shares changed hands during trading, a decline of 46% from the average daily volume of 80,008 shares. The stock had previously closed at $1,639.63.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of analyst reports. Barclays began coverage on First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective for the company. UBS Group boosted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group began coverage on First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus target price of $1,768.63.

First Citizens BancShares Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50 day moving average price of $1,572.77 and a 200 day moving average price of $1,475.21. The firm has a market cap of $26.14 billion, a PE ratio of 2.23 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data 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). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. Sell-side analysts expect that First Citizens BancShares, Inc. will post 179.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. bought 622 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders have acquired 1,388 shares of company stock valued at $1,825,220 over the last quarter. Company insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in First Citizens BancShares by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,017,655 shares of the bank’s stock worth $1,444,022,000 after buying an additional 6,906 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of First Citizens BancShares by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,267 shares of the bank’s stock worth $361,956,000 after purchasing an additional 13,658 shares during the period. Wellington Management Group LLP raised its holdings in shares of First Citizens BancShares by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock worth $339,933,000 after purchasing an additional 41,793 shares during the period. FMR LLC raised its holdings in shares of First Citizens BancShares by 17.2% in the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock worth $261,095,000 after purchasing an additional 27,729 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of First Citizens BancShares by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 186,822 shares of the bank’s stock worth $265,120,000 after purchasing an additional 534 shares during the period. Institutional investors and hedge funds own 61.18% of the company’s stock.

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.