1,689 Shares in First Citizens BancShares, Inc. $FCNCA Bought by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,689 shares of the bank’s stock, valued at approximately $3,021,000. First Citizens BancShares comprises about 1.6% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after buying an additional 681 shares during the period. Empowered Funds LLC increased its position in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after acquiring an additional 164 shares during the period. Focus Partners Wealth raised its stake in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after acquiring an additional 12 shares during the last quarter. Ballentine Partners LLC acquired a new stake in First Citizens BancShares during the 2nd quarter worth approximately $205,000. Finally, Signaturefd LLC grew its stake in shares of First Citizens BancShares by 17.6% in the 2nd quarter. Signaturefd LLC now owns 260 shares of the bank’s stock valued at $509,000 after purchasing an additional 39 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler cut their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Keefe, Bruyette & Woods dropped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a research note on Tuesday, January 6th. TD Cowen lowered their target price on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Monday. Finally, UBS Group reissued a “buy” rating and set a $2,500.00 price target on shares of First Citizens BancShares in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,245.09.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 135 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased 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 in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ellen R. Alemany bought 300 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director owned 300 shares of the company’s stock, valued at $300,000. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. 13.19% of the stock is owned by insiders.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,014.66 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,245.33. The firm has a market capitalization of $25.06 billion, a P/E ratio of 12.16 and a beta of 0.69. The company’s fifty day moving average is $2,063.19 and its two-hundred day moving average is $1,951.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. Analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.97%.

First Citizens BancShares 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.