Goldman Sachs Group Inc. Grows Stake in First Citizens BancShares, Inc. $FCNCA

Goldman Sachs Group Inc. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.1% during the 4th quarter, HoldingsChannel reports. The firm owned 42,530 shares of the bank’s stock after buying an additional 3,890 shares during the period. Goldman Sachs Group Inc.’s holdings in First Citizens BancShares were worth $91,277,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in First Citizens BancShares during the 3rd quarter worth $27,000. Harbor Investment Advisory LLC increased its holdings in First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares during the period. Fifth Third Bancorp increased its holdings in First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after purchasing an additional 6 shares during the period. Allworth Financial LP increased its holdings in First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after purchasing an additional 5 shares during the period. Finally, Root Financial Partners LLC increased its holdings in First Citizens BancShares by 61.1% during the 4th quarter. Root Financial Partners LLC now owns 29 shares of the bank’s stock worth $62,000 after purchasing an additional 11 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.3%

Shares of NASDAQ:FCNCA opened at $2,100.68 on Wednesday. First Citizens BancShares, Inc. has a 12-month low of $1,623.76 and a 12-month high of $2,232.21. The business’s fifty day simple moving average is $1,974.23 and its 200-day simple moving average is $2,003.71. The company has a market capitalization of $24.35 billion, a PE ratio of 12.08, a P/E/G ratio of 1.58 and a beta of 0.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $37.79 EPS. As a group, equities research analysts predict that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $2.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

Analyst Upgrades and Downgrades

Several research firms have commented on FCNCA. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Keefe, Bruyette & Woods reduced their price objective on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Piper Sandler set a $2,050.00 price target on First Citizens BancShares in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Hold” and an average target price of $2,215.91.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 528 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the transaction, the chief executive officer directly owned 64,100 shares of the company’s stock, valued at $116,237,017. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 7,437 shares of company stock valued at $12,956,718. 14.63% of the stock is owned by company insiders.

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.