DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 935 shares of the bank's stock after selling 190 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in First Citizens BancShares were worth $1,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCNCA. Barclays PLC lifted its position in First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after purchasing an additional 1,158 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after acquiring an additional 18,501 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock valued at $122,516,000 after acquiring an additional 1,183 shares in the last quarter. Wedmont Private Capital bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $219,000. Finally, Cooper Financial Group bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $309,000. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Up 0.4%

Shares of NASDAQ FCNCA traded up $7.56 during trading on Friday, reaching $1,974.11. The company had a trading volume of 17,148 shares, compared to its average volume of 86,712. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The stock has a market cap of $26.80 billion, a PE ratio of 10.42, a P/E/G ratio of 0.94 and a beta of 0.64. The business's 50-day moving average is $1,780.28 and its 200 day moving average is $2,008.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.40%. First Citizens BancShares's payout ratio is 4.47%.

Insiders Place Their Bets

In related news, CFO Craig L. Nix acquired 17 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51% 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, CEO Frank B. Holding, Jr. acquired 350 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FCNCA shares. Truist Financial upped their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. TD Cowen began coverage on First Citizens BancShares in a research note on Thursday. They issued a "buy" rating and a $2,400.00 price target on the stock. StockNews.com cut First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, Barclays reduced their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,336.58.

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.