The Goldman Sachs Group Issues Pessimistic Forecast for First Citizens BancShares (NASDAQ:FCNCA) Stock Price

First Citizens BancShares (NASDAQ:FCNCA) had its price objective reduced by The Goldman Sachs Group from $2,535.00 to $2,200.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities analysts have also commented on FCNCA. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,842.96 on Tuesday. The stock has a market cap of $25.02 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The firm’s fifty day simple moving average is $2,056.93 and its 200 day simple moving average is $2,056.10. First Citizens BancShares has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, research analysts predict that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Financial Life Planners bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $33,000. Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $36,000. Mather Group LLC. grew its stake in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.