In a recent transaction, Ellen R. Alemany, a director at First Citizens Bancshares Inc. (NASDAQ:FCNCA), sold 516 shares of the company’s Class A Common stock. The sale, which took place on May 3, 2024, was executed at a price of $1,750 per share, resulting in a total value of over $900,000.
This move by Alemany comes as part of her activities within the company’s stock ownership structure. Following the transaction, she holds a total of 819 shares directly in a Family Non-GST Exempt Trust. Additionally, Alemany’s indirect holdings in the company include 4,842 shares held directly, 5,757 shares in a May 2022 Grantor Retained Annuity Trust (GRAT), 4,559 shares in a Family GST Exempt Trust, and 3,985 shares in a March 2024 GRAT #1. She also holds 30,000 shares of Class C Preferred Stock directly.
The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which provides a detailed account of Alemany’s holdings and recent stock activity.
Investors and market watchers often pay close attention to insider transactions as they can provide insights into executives’ perspectives on the company’s performance and future. However, it’s important to note that such transactions do not necessarily indicate a company’s long-term prospects and can be influenced by a variety of factors, including personal financial planning and diversification strategies.
First Citizens Bancshares Inc., headquartered in Raleigh, North Carolina, is a financial institution known for its commercial banking services. The company’s stock, traded under the ticker FCNCA, is watched by investors for signs of performance and strategic moves by its executives.
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InvestingPro Insights
As the market digests the recent insider transaction at First Citizens Bancshares Inc. (NASDAQ:FCNCA), a glance at the InvestingPro data and tips provides a broader context for evaluating the company’s financial health and stock performance. With a market capitalization of 25.07 billion USD and a striking P/E ratio of 2.19, which adjusts to 6.53 for the last twelve months as of Q4 2023, FCNCA presents an interesting case for investors. The company’s revenue growth is notably robust, with a 90.15% increase over the last twelve months and a quarterly surge of 98.61% in Q4 2023.
One of the key InvestingPro Tips for FCNCA is its commendable track record of raising dividends, having done so for 7 consecutive years and maintaining dividend payments for an impressive 39 years in total. This consistency signals a potentially attractive opportunity for income-focused investors. Moreover, the stock has delivered a high return over the past year, with a 72.51% price total return, and shows strong returns over the last three months, at 16.41%.
For investors seeking further insights, there are additional InvestingPro Tips available, which could provide more nuanced guidance on FCNCA’s performance and outlook. For instance, while the company’s gross profit margins have been weak, analysts predict profitability for this year, and the company has been profitable over the last twelve months. Additionally, the stock has enjoyed a high return over the last decade and a strong return over the last five years, suggesting resilience and growth potential in the long term.
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Interested investors can access a more comprehensive set of InvestingPro Tips for FCNCA by visiting https://www.investing.com/pro/FCNCA. Plus, with the use of coupon code PRONEWS24, readers can enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable insights.
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