Goldman Sachs Group Inc. Purchases 3,890 Shares of First Citizens BancShares, Inc. $FCNCA

Goldman Sachs Group Inc. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,530 shares of the bank’s stock after buying an additional 3,890 shares during the period. Goldman Sachs Group Inc. owned approximately 0.34% of First Citizens BancShares worth $91,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC boosted its stake in First Citizens BancShares by 6.9% during the fourth quarter. Greenwich Wealth Management LLC now owns 218 shares of the bank’s stock valued at $469,000 after buying an additional 14 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of First Citizens BancShares by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 27,221 shares of the bank’s stock valued at $58,421,000 after purchasing an additional 1,697 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of First Citizens BancShares by 61.1% in the 4th quarter. Root Financial Partners LLC now owns 29 shares of the bank’s stock valued at $62,000 after purchasing an additional 11 shares during the last quarter. Old Peak Finance LLC bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at approximately $1,548,000. Finally, Angel Oak Capital Advisors LLC lifted its stake in shares of First Citizens BancShares by 24.8% in the 4th quarter. Angel Oak Capital Advisors LLC now owns 1,005 shares of the bank’s stock valued at $2,157,000 after purchasing an additional 200 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Trading Up 1.3%

Shares of NASDAQ FCNCA opened at $2,100.68 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $1,974.23 and its 200-day moving average price is $2,003.71. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the business posted $37.79 earnings per share. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.

First Citizens BancShares Announces Dividend

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

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 528 shares of First Citizens BancShares stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the acquisition, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. This represents a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 7,437 shares of company stock valued at $12,956,718 in the last quarter. Corporate insiders own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCNCA. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. TD Cowen decreased their price target on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. Piper Sandler set a $2,050.00 price target on First Citizens BancShares in a report on Friday, April 24th. Finally, Weiss Ratings lowered First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2,215.91.

First Citizens BancShares 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.