Rep. Byron Donalds Purchases Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Representative Byron Donalds (R-Florida) recently bought shares of First Citizens BancShares, Inc. NASDAQ: FCNCA. In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in First Citizens BancShares stock on January 21st. The trade occurred in the Representative's "MORAN WEALTH IRA" account.

Representative Byron Donalds also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of RLI NYSE: RLI on 1/21/2025.
• Purchased $1,001 - $15,000 in shares of GoDaddy NYSE: GDDY on 1/21/2025.
• Purchased $1,001 - $15,000 in shares of GoDaddy NYSE: GDDY on 1/16/2025.
• Sold $1,001 - $15,000 in shares of RLI NYSE: RLI on 1/16/2025.
• Purchased $1,001 - $15,000 in shares of First Citizens BancShares NASDAQ: FCNCA on 1/16/2025.
• Sold $1,001 - $15,000 in shares of Merck & Co., Inc. NYSE: MRK on 1/16/2025.

First Citizens BancShares Price Performance

FCNCA stock traded up $34.47 during trading hours on Friday, hitting $2,141.49. 34,868 shares of the stock traded hands, compared to its average volume of 70,091. The stock has a 50-day simple moving average of $2,143.80 and a 200 day simple moving average of $2,065.70. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93. The company has a market cap of $29.96 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities analysts forecast that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares's dividend payout ratio is currently 4.12%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FCNCA. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective on the stock. Piper Sandler increased their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Truist Financial raised their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, Wedbush lowered their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,323.50.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after purchasing an additional 35 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of First Citizens BancShares in the 3rd quarter valued at $177,000. Oliver Luxxe Assets LLC increased its stake in shares of First Citizens BancShares by 22.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank's stock valued at $5,368,000 after buying an additional 537 shares during the period. Affinity Wealth Management LLC increased its stake in shares of First Citizens BancShares by 116.4% in the 3rd quarter. Affinity Wealth Management LLC now owns 448 shares of the bank's stock valued at $825,000 after buying an additional 241 shares during the period. Finally, Creative Planning increased its stake in shares of First Citizens BancShares by 4.5% in the 3rd quarter. Creative Planning now owns 1,138 shares of the bank's stock valued at $2,095,000 after buying an additional 49 shares during the period. Institutional investors own 78.01% of the company's stock.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida's 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida's 19th Congressional District. He declared candidacy for the 2026 election. Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor's degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

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.