Alaska Permanent Fund Corp Sells 8 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Alaska Permanent Fund Corp lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,796 shares of the bank’s stock after selling 8 shares during the quarter. Alaska Permanent Fund Corp’s holdings in First Citizens BancShares were worth $2,936,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of First Citizens BancShares in the first quarter valued at approximately $31,000. Blue Trust Inc. boosted its position in shares of First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after acquiring an additional 10 shares during the period. GAMMA Investing LLC bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $30,000. Principal Securities Inc. bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $43,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $48,000. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA stock opened at $1,652.46 on Friday. The business’s fifty day moving average is $1,689.18 and its 200-day moving average is $1,564.52. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77. The company has a market cap of $24.01 billion, a P/E ratio of 9.17 and a beta of 0.84. First Citizens BancShares, Inc. has a twelve month low of $1,181.71 and a twelve month high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, beating analysts’ consensus estimates of $44.27 by $8.65. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. Equities research analysts forecast that First Citizens BancShares, Inc. will post 188.62 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, May 31st. First Citizens BancShares’s payout ratio is presently 3.64%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the sale, the director now owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ellen R. Alemany sold 484 shares of First Citizens BancShares stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the completion of the transaction, the director now owns 335 shares in the company, valued at $586,290.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the transaction, the director now owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The disclosure for this sale can be found here. Insiders have sold 3,000 shares of company stock valued at $5,273,568 in the last 90 days. 13.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FCNCA has been the subject of a number of recent research reports. DA Davidson restated a “neutral” rating and issued a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,829.90.

First Citizens BancShares 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.