The Goldman Sachs Group Cuts First Citizens BancShares (NASDAQ:FCNCA) Price Target to $2,200.00

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

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Barclays increased their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from 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 Down 2.1 %

First Citizens BancShares stock opened at $1,842.96 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm’s fifty day moving average is $2,056.93 and its 200 day moving average is $2,056.10. First Citizens BancShares has a 12-month low of $1,518.00 and a 12-month high of $2,412.93. The company has a market capitalization of $25.02 billion, a PE ratio of 9.73, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping 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, sell-side analysts predict that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid 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 is currently 4.12%.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, for a total transaction 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 approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 13.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp grew its holdings in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the last quarter. Mather Group LLC. grew its holdings in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after purchasing an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock worth $328,000 after purchasing an additional 5 shares during the last quarter. 78.01% of the stock is currently owned by 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.