Olivia Britton Holding Sells 7,000 Shares of First Citizens BancShares (NASDAQ:FCNCA) Stock

Key Points

  • Major shareholder Olivia Britton Holding sold 7,000 First Citizens BancShares shares at an average price of $19.53, generating $136,710. After the transaction, the holder retained 15,000 shares, a 31.82% reduction in ownership.
  • First Citizens BancShares reported quarterly EPS of $57.09, far exceeding the $0.41 analyst consensus, while revenue reached $2.43 billion versus estimates of $2.16 billion.
  • Analysts maintain a consensus “Hold” rating with an average price target of $2,272.54; the company also pays a quarterly dividend of $2.10 per share, yielding approximately 0.4%.

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) major shareholder Olivia Britton Holding sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $19.53, for a total transaction of $136,710.00. Following the sale, the insider directly owned 15,000 shares in the company, valued at approximately $292,950. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

First Citizens BancShares Trading Up 1.0%

NASDAQ:FCNCA opened at $2,120.58 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,296.30. The firm has a market cap of $23.94 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.59 and a beta of 0.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59. The stock has a fifty day moving average price of $2,172.77 and a 200 day moving average price of $2,046.71.




First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $56.68. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.16 billion. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 31st. First Citizens BancShares's dividend payout ratio is presently 4.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCNCA. Wall Street Zen upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a research note on Thursday, July 9th. Barclays boosted their price objective on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. Truist Financial upped their target price on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a "hold" rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $2,300.00 target price on shares of First Citizens BancShares in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Hold" and a consensus price target of $2,272.54.

Get Our Latest Stock Analysis on First Citizens BancShares

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently modified their holdings of FCNCA. Hilton Head Capital Partners LLC acquired a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $26,000. Integrated Wealth Concepts LLC purchased a new position in shares of First Citizens BancShares in the second quarter valued at $31,000. Jones Financial Companies Lllp acquired a new position in shares of First Citizens BancShares during the 2nd quarter worth $42,000. Reflection Asset Management purchased a new stake in shares of First Citizens BancShares in the 4th quarter worth about $45,000. Finally, Global Assets Advisory LLC acquired a new stake in First Citizens BancShares in the 1st quarter valued at about $45,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Company Profile

(Get Free Report)

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.

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