First Citizens Bancshares chairman and CEO acquires $724,500 in stock

RALEIGH, NC—Frank B. Holding Jr., Chairman and CEO of First Citizens Bancshares Inc. (NASDAQ:FCNCA), has purchased a significant amount of the company’s Class B common stock, according to a recent SEC filing. On May 2, 2025, Holding acquired a total of 450 shares at a consistent price of $1,610 per share, amounting to a total purchase value of $724,500. The purchase comes as the $24.1 billion market cap bank trades at $1,791.93, with InvestingPro analysis indicating the stock is currently undervalued.

The transactions were divided between direct ownership and indirect ownership through his spouse. Post-transaction, Holding’s direct ownership in Class B shares increased to 2,758, while indirect ownership, attributed to his spouse, rose to 1,160 shares. This insider purchase aligns with broader management actions, as InvestingPro data shows management has been aggressively buying back shares, while maintaining dividend payments for 40 consecutive years.

These acquisitions reflect Holding’s continued confidence in the company’s prospects. As a key figure in the organization, Holding’s transactions are closely watched by investors and market analysts. For deeper insights into First Citizens’ valuation and 11 additional exclusive ProTips, visit InvestingPro.

In other recent news, First Citizens BancShares Inc. reported its financial results for the first quarter of 2025, with adjusted earnings per share (EPS) of $37.79, slightly missing the forecast of $38.3. However, the company achieved a revenue of $2.3 billion, surpassing the expected $2.19 billion, indicating strong sales performance in sectors such as tech, media, telecom, and healthcare. Despite the revenue beat, the company faces challenges in maintaining profit margins, as reflected in the EPS miss. Additionally, First Citizens BancShares announced the termination of its FDIC loss share agreement, which had been in place as part of an acquisition strategy. The company also emphasized its commitment to returning value to shareholders, having repurchased a significant portion of its shares. Looking ahead, First Citizens BancShares has set guidance for loans and deposits for the upcoming quarters and anticipates net interest income to range between $6.55 billion and $6.95 billion for the year. Analysts from firms like JPMorgan have noted the company’s resilience and strategic focus amid market volatility.

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