First Citizens BancShares (NASDAQ:FCNCA) Reaches New 12-Month High at $1,652.04

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

Analyst Ratings Changes

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

First Citizens BancShares Trading Up 1.0 %

The firm has a market cap of $23.81 billion, a P/E ratio of 2.09 and a beta of 0.89. The company has a 50 day moving average of $1,569.83 and a 200 day moving average of $1,474.05. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. Analysts predict that First Citizens BancShares, Inc. will post 179.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. bought 622 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at $128,355,835. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Ellen R. Alemany sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were acquired 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 disclosure for this purchase can be found here. Insiders purchased 1,388 shares of company stock valued at $1,825,220 over the last 90 days. 13.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of First Citizens BancShares by 145.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after purchasing an additional 833 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of First Citizens BancShares by 89.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock valued at $2,716,000 after purchasing an additional 903 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of First Citizens BancShares by 3,091.6% in the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock valued at $34,203,000 after purchasing an additional 23,156 shares in the last quarter. Reinhart Partners LLC. raised its stake in shares of First Citizens BancShares by 11.7% in the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock valued at $80,602,000 after purchasing an additional 5,952 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of First Citizens BancShares by 49.1% in the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock valued at $65,261,000 after purchasing an additional 15,579 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

About First Citizens BancShares

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.