Retirement Planning Group LLC Invests $803,000 in First Citizens BancShares, Inc. $FCNCA

Retirement Planning Group LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 449 shares of the bank’s stock, valued at approximately $803,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in First Citizens BancShares by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after buying an additional 681 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of First Citizens BancShares by 71.9% in the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after acquiring an additional 164 shares in the last quarter. Focus Partners Wealth boosted its holdings in First Citizens BancShares by 5.2% in the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after purchasing an additional 12 shares during the last quarter. Strs Ohio purchased a new position in First Citizens BancShares in the first quarter valued at about $1,074,000. Finally, Voya Investment Management LLC grew its stake in First Citizens BancShares by 0.5% during the 1st quarter. Voya Investment Management LLC now owns 1,668 shares of the bank’s stock valued at $3,093,000 after purchasing an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 0.1%

FCNCA stock opened at $2,161.26 on Thursday. The firm has a market cap of $26.88 billion, a price-to-earnings ratio of 12.78 and a beta of 0.69. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The firm has a fifty day moving average price of $2,013.23 and a two-hundred day moving average price of $1,948.54. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.21 billion. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $2.10 dividend. The ex-dividend date was Friday, November 28th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.97%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 135 shares of the stock in a transaction dated Wednesday, November 26th. The stock was bought at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the acquisition, the chief executive officer owned 2,527 shares of the company’s stock, valued at $4,118,176.09. This trade represents a 5.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ellen R. Alemany purchased 300 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director owned 300 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their target price on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a report on Tuesday, October 28th. Piper Sandler reduced their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Barclays boosted their target price on shares of First Citizens BancShares from $2,190.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,250.55.

About First Citizens BancShares

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.