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

GSA Capital Partners LLP acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 286 shares of the bank’s stock, valued at approximately $512,000.

Several other institutional investors also recently bought and sold shares of FCNCA. Goldman Sachs Group Inc. increased its stake 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 worth $69,324,000 after purchasing an additional 681 shares during the period. Empowered Funds LLC grew its holdings 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 purchasing an additional 164 shares during the last quarter. Focus Partners Wealth increased its stake in shares of First Citizens BancShares by 5.2% in the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after buying an additional 12 shares during the period. Carnegie Investment Counsel bought a new stake in First Citizens BancShares during the 2nd quarter valued at $614,000. Finally, AlphaQuest LLC purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $219,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 2.5%

NASDAQ FCNCA opened at $1,965.72 on Tuesday. The firm has a market capitalization of $24.45 billion, a PE ratio of 11.86 and a beta of 0.70. The stock’s 50 day moving average is $2,113.81 and its 200 day moving average is $1,953.97. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve 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.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $2.24 billion. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share 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. Investors of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 135 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the acquisition, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen decreased their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Truist Financial raised their target price on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Finally, Barclays dropped their price objective on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,238.27.

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.