Oliver Luxxe Assets LLC Buys Shares of 2,392 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Oliver Luxxe Assets LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,392 shares of the bank’s stock, valued at approximately $3,911,000.

A number of other institutional investors also recently bought and sold shares of FCNCA. Blue Trust Inc. raised its stake 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 worth $27,000 after buying an additional 10 shares during the period. GAMMA Investing LLC purchased a new position in First Citizens BancShares in the 4th quarter worth approximately $30,000. Mather Group LLC. purchased a new position in First Citizens BancShares in the 1st quarter worth approximately $31,000. Principal Securities Inc. purchased a new position in First Citizens BancShares in the 4th quarter worth approximately $43,000. Finally, Private Wealth Management Group LLC bought a new stake in First Citizens BancShares in the 4th quarter worth approximately $48,000. Institutional investors own 61.18% of the company’s stock.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the transaction, the director now directly owns 2,335 shares in the company, valued at $4,124,170.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the sale, the director now directly owns 2,335 shares of the company’s stock, valued at approximately $4,124,170.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $847,058.08. Following the sale, the director now directly owns 335 shares of the company’s stock, valued at $586,290.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,000 shares of company stock worth $5,273,568. Company insiders own 12.85% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded up $36.19 during midday trading on Monday, hitting $1,719.80. The stock had a trading volume of 30,620 shares, compared to its average volume of 82,820. The company has a market capitalization of $24.99 billion, a PE ratio of 9.40 and a beta of 0.83. The stock has a 50 day simple moving average of $1,701.66 and a 200-day simple moving average of $1,575.10. First Citizens BancShares, Inc. has a 1 year low of $1,241.05 and a 1 year high of $1,810.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, beating the consensus estimate of $44.27 by $8.65. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 188.62 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $1.64 dividend. The ex-dividend date was Friday, May 31st. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s payout ratio is presently 3.64%.

Analyst Ratings Changes

Several research firms have recently weighed in on FCNCA. Barclays boosted their target price on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday, April 29th. The Goldman Sachs Group began coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Finally, Piper Sandler cut First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1,836.00.

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.