Craig Nix Is The CFO & Principal Accounting Officer of First Citizens BancShares, Inc. (NASDAQ:FCNC.A) And They Just Picked Up 8.3% More Shares

Simply Wall St
·3 min read

Even if it's not a huge purchase, we think it was good to see that Craig Nix, the CFO & Principal Accounting Officer of First Citizens BancShares, Inc. (NASDAQ:FCNC.A) recently shelled out US$53k to buy stock, at US$792 per share. However, it only increased their shares held by 8.3%, and it wasn't a huge purchase by absolute value, either.

See our latest analysis for First Citizens BancShares

The Last 12 Months Of Insider Transactions At First Citizens BancShares

Over the last year, we can see that the biggest insider sale was by the Chief Credit Officer, Marisa Harney, for US$553k worth of shares, at about US$843 per share. So what is clear is that an insider saw fit to sell at around the current price of US$815. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive). Marisa Harney was the only individual insider to sell over the last year.

Over the last year, we can see that insiders have bought 1.60k shares worth US$1.1m. But insiders sold 657.00 shares worth US$553k. In the last twelve months there was more buying than selling by First Citizens BancShares insiders. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
insider-trading-volume

First Citizens BancShares is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Does First Citizens BancShares Boast High Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. First Citizens BancShares insiders own about US$2.9b worth of shares (which is 24% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About First Citizens BancShares Insiders?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about First Citizens BancShares. One for the watchlist, at least! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To assist with this, we've discovered 2 warning signs that you should run your eye over to get a better picture of First Citizens BancShares.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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