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

First Citizens BancShares (NASDAQ:FCNCA - Free Report) had its target price trimmed by The Goldman Sachs Group from $2,535.00 to $2,200.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank's stock.

Several other equities research analysts have also recently issued reports on FCNCA. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective on the stock. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, March 11th. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price objective on the stock. Finally, StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,288.08.

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First Citizens BancShares Price Performance

FCNCA stock traded up $8.24 on Tuesday, reaching $1,851.20. The company had a trading volume of 136,163 shares, compared to its average volume of 84,005. First Citizens BancShares has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company's fifty day moving average is $2,052.67 and its 200 day moving average is $2,055.18. The company has a market cap of $25.13 billion, a P/E ratio of 9.77, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, research analysts forecast that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is presently 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 on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp grew its stake in shares of First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock valued at $1,117,000 after acquiring an additional 5 shares in the last quarter. Mather Group LLC. grew its stake in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in shares of First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of First Citizens BancShares by 3.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after acquiring an additional 5 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

About First Citizens BancShares

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.