Allianz Asset Management GmbH Buys 142 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Allianz Asset Management GmbH lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 37.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520 shares of the bank's stock after purchasing an additional 142 shares during the period. Allianz Asset Management GmbH's holdings in First Citizens BancShares were worth $964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCNCA. MassMutual Private Wealth & Trust FSB grew its holdings in First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after buying an additional 6 shares in the last quarter. Community Bank N.A. bought a new stake in First Citizens BancShares in the 1st quarter worth approximately $44,000. Wayfinding Financial LLC bought a new stake in First Citizens BancShares in the 1st quarter worth approximately $64,000. Toth Financial Advisory Corp lifted its position in First Citizens BancShares by 263.6% in the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after buying an additional 29 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in First Citizens BancShares in the fourth quarter valued at approximately $77,000. 78.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Olivia Britton Holding purchased 66 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $1,735.00 per share, for a total transaction of $114,510.00. Following the acquisition, the insider directly owned 121,926 shares of the company's stock, valued at $211,541,610. This represents a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Down 1.1%

FCNCA stock opened at $1,994.76 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The business's 50-day moving average is $1,964.23 and its two-hundred day moving average is $1,937.84. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 11.77 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.30% and a net margin of 16.37%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. As a group, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.60%.

Analysts Set New Price Targets

Several analysts have weighed in on FCNCA shares. Jefferies Financial Group started coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price objective for the company. JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the stock a "neutral" rating in a research note on Monday. Cowen reissued a "buy" rating on shares of First Citizens BancShares in a research note on Monday. Finally, Citigroup increased their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2,291.17.

First Citizens BancShares Company Profile

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.

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