Frank B. Holding Jr., who serves as chairman and chief executive officer of First Citizens BancShares (NASDAQ: FCNCA), disclosed purchases of 98 shares of the company's Class B common stock executed between March 17 and March 19, 2026. The shares were purchased at $1,550 each, for a total outlay of $151,900, according to a Form 4 filing with the Securities and Exchange Commission.
The filing breaks down the transactions: 92 shares were acquired directly on March 19, 2026, while six shares were recorded as indirect purchases through the Frank B. Holding Jr. 2025 #1 GRAT on March 17 and March 19. Following the reported trades, Holding directly holds 2,841 shares of Class B common stock. The filing also notes that he maintains substantial indirect ownership of both Class A and Class B shares through various trusts and custodial arrangements.
The insider purchases took place as First Citizens' shares traded at $1,803, a level that represents a 17% decline year-to-date. In valuation terms, InvestingPro's analysis cited in the disclosure indicates a price-to-earnings ratio of 10.92, suggesting the firm appears undervalued at current market levels. The company has raised its dividend for nine consecutive years and carries a market capitalization of $21.58 billion. Readers are directed to the Pro Research Report for additional data covering First Citizens and more than 1,400 other U.S. equities.
In operational and financial disclosures, First Citizens reported fourth-quarter 2025 core earnings per share of $51.27, beating analyst expectations, a result the company attributed largely to lower provisions. That said, the firm recorded pre-tax pre-provision income that fell short of forecasted levels.
On the analyst front, TD Cowen adjusted its price target for First Citizens BancShares to $2,500 from $2,600 while retaining a Buy rating. The firm’s strategic agenda, as disclosed publicly, includes pursuing acquisitions with the goal of surpassing the $250 billion asset threshold. Management has identified potential targets, including KeyCorp, as part of that effort. The bank says reaching that asset size is intended to strengthen its capacity to manage regulatory and compliance costs.
Additional sector context included a report from Raymond James highlighting heightened concerns around banks' private credit exposures. The report referenced recent auto bankruptcies that have intensified credit worries; those developments were attributed to alleged borrower fraud and have generated legal challenges. Raymond James noted that losses tied to these issues have been concentrated among a limited number of banks with specific credit exposures.
Separately, First Citizens Bank’s chairman and CEO, Frank Holding, was appointed to the Federal Reserve Board of Governors’ Federal Advisory Council for 2026, representing the Fifth District. The council role was noted alongside the other corporate developments disclosed in filings and analyst commentary.
The transactions reported on the Form 4, the company’s recent quarterly performance, analyst target revisions, strategic acquisition efforts, and broader concerns about private credit losses together paint a picture of a bank navigating valuation pressures, regulatory considerations, and targeted growth plans. The insider purchase is modest in size relative to the firm’s market capitalization and the broader strategic moves under consideration.