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RALEIGH, NC—Craig L. Nix, the Chief Financial Officer of First Citizens BancShares Inc. (NASDAQ:FCNCA), recently purchased shares in the company, according to a filing with the Securities and Exchange Commission. The transaction, dated March 7, 2025, involved the acquisition of 17 shares of Class A Common Stock at a price of $1,881.13 per share, totaling approximately $31,979. This purchase comes as InvestingPro data shows the stock trading at $1,732.64, down nearly 18% year-to-date, with technical indicators suggesting oversold conditions.
Following this purchase, Nix holds 1,141 shares of Class A Common Stock directly. Additionally, he retains ownership of 9,265 shares of the company’s 5.625% Non-Cumulative Perpetual Preferred Stock, Series C. This transaction highlights ongoing insider activity within the company, reflecting a direct investment by one of its key executives. The $23.6 billion market cap bank has maintained strong fundamentals, with a P/E ratio of 9.16 and consistent dividend payments for 40 consecutive years. According to InvestingPro’s Fair Value analysis, the stock appears undervalued, with 12 additional exclusive insights available to subscribers.
In other recent news, First Citizens BancShares has seen several updates from financial analysts. Piper Sandler upgraded the bank’s stock from Neutral to Overweight, with a new price target of $2,250, citing potential for aggressive share repurchases and limited downside risk to future earnings. DA Davidson maintained a Neutral rating but set a price target of $2,400, noting potential gains from capital markets activity and reduced debt issuance requirements, while also highlighting expected increases in operational expenses. Truist Securities raised its price target to $2,384, maintaining a Hold rating, and emphasized expectations for higher net interest income and reduced expenses based on the bank’s guidance.
Keefe, Bruyette & Woods increased their price target to $2,600 and kept an Outperform rating, driven by strong fourth-quarter performance and accelerated share buybacks. They projected that the bank’s earnings for 2025 would exceed consensus estimates, supported by positive net interest income revisions. The analysts also pointed to potential growth in Silicon Valley Bank’s loans and deposits as a medium-term strength. These developments reflect the varying perspectives of analysts on First Citizens BancShares’ financial trajectory and strategic direction.
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