Noesis Capital Mangement Corp Buys Shares of 800 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Noesis Capital Mangement Corp acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 800 shares of the bank's stock, valued at approximately $1,483,000.

Several other institutional investors have also modified their holdings of FCNCA. Egerton Capital UK LLP lifted its stake in First Citizens BancShares by 21.7% in the 1st quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank's stock valued at $231,344,000 after acquiring an additional 22,257 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in First Citizens BancShares by 3.8% in the 1st quarter. Venturi Wealth Management LLC now owns 221 shares of the bank's stock valued at $410,000 after acquiring an additional 8 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in First Citizens BancShares in the 1st quarter valued at approximately $4,606,000. Allianz Asset Management GmbH lifted its stake in First Citizens BancShares by 37.6% in the 1st quarter. Allianz Asset Management GmbH now owns 520 shares of the bank's stock valued at $964,000 after acquiring an additional 142 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in First Citizens BancShares by 11.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,741 shares of the bank's stock valued at $14,353,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA traded down $17.79 on Friday, reaching $2,096.04. The stock had a trading volume of 97,295 shares, compared to its average volume of 84,642. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a fifty day moving average of $1,950.28 and a two-hundred day moving average of $1,939.67. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a market cap of $27.85 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer owned 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays lowered 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 report on Friday, April 25th. Citigroup boosted their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. TD Cowen initiated coverage on First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target on the stock. Finally, Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average target price of $2,299.50.

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.