GSA Capital Partners LLP Takes Position in First Citizens BancShares, Inc. $FCNCA

GSA Capital Partners LLP acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, according to its most recent filing with the SEC. The fund acquired 286 shares of the bank’s stock, valued at approximately $512,000.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of First Citizens BancShares during the second quarter valued at about $177,604,000. Orion Porfolio Solutions LLC grew its stake in First Citizens BancShares by 2,057.4% during the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after acquiring an additional 45,304 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in First Citizens BancShares by 390.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after acquiring an additional 38,446 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in First Citizens BancShares during the 3rd quarter worth approximately $46,540,000. Finally, JPMorgan Chase & Co. lifted its stake in First Citizens BancShares by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 2.5%

Shares of FCNCA stock opened at $1,965.72 on Tuesday. The business has a 50-day moving average price of $2,113.81 and a two-hundred day moving average price of $1,953.97. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a market cap of $24.45 billion, a P/E ratio of 11.86 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent analyst reports. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a research report on Wednesday, February 4th. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research note on Tuesday, January 6th. Zacks Research lowered First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Finally, Barclays dropped their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,238.27.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 135 shares of the stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $1,629.67 per share, for a total transaction of $220,005.45. Following the acquisition, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.