Insider Selling: First Citizens BancShares Inc. (NASDAQ:FCNCA) Insider Sells $4,565,100.00 in Stock

First Citizens BancShares Inc. (NASDAQ:FCNCA) insider Peter M. Bristow sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $456.51, for a total transaction of $4,565,100.00. Following the transaction, the insider now directly owns 6,737 shares in the company, valued at $3,075,507.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:FCNCA opened at $451.22 on Thursday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 13.16 and a beta of 1.18. The stock’s 50 day moving average is $439.09. First Citizens BancShares Inc. has a one year low of $355.18 and a one year high of $488.44. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Tuesday, April 30th. The bank reported $9.67 EPS for the quarter. The business had revenue of $424.14 million for the quarter. First Citizens BancShares had a net margin of 24.62% and a return on equity of 11.79%.

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, June 14th.

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in First Citizens BancShares by 45.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,870 shares of the bank’s stock valued at $706,000 after buying an additional 581 shares during the last quarter. BlackRock Inc. raised its position in First Citizens BancShares by 1.9% in the 4th quarter. BlackRock Inc. now owns 369,036 shares of the bank’s stock valued at $139,145,000 after buying an additional 6,880 shares during the last quarter. Raymond James & Associates raised its position in First Citizens BancShares by 9.7% in the 4th quarter. Raymond James & Associates now owns 1,183 shares of the bank’s stock valued at $446,000 after buying an additional 105 shares during the last quarter. Citigroup Inc. raised its position in First Citizens BancShares by 36.6% in the 4th quarter. Citigroup Inc. now owns 1,123 shares of the bank’s stock valued at $423,000 after buying an additional 301 shares during the last quarter. Finally, United Services Automobile Association raised its position in First Citizens BancShares by 7.7% in the 4th quarter. United Services Automobile Association now owns 1,460 shares of the bank’s stock valued at $550,000 after buying an additional 104 shares during the last quarter. 44.42% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.

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Insider Buying and Selling by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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