Siemens Fonds Invest GmbH Acquires Shares of 23,315 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Siemens Fonds Invest GmbH bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,315 shares of the bank's stock, valued at approximately $49,265,000. First Citizens BancShares accounts for about 1.9% of Siemens Fonds Invest GmbH's holdings, making the stock its 10th largest holding. Siemens Fonds Invest GmbH owned about 0.17% of First Citizens BancShares as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FCNCA. Mather Group LLC. raised its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC raised its holdings in shares of First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after acquiring an additional 5 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of First Citizens BancShares by 3.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock worth $328,000 after acquiring an additional 5 shares in the last quarter. Finally, JT Stratford LLC raised its holdings in shares of First Citizens BancShares by 0.4% during the fourth quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock worth $2,635,000 after acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock traded down $5.77 during trading on Friday, reaching $1,838.48. The company's stock had a trading volume of 164,290 shares, compared to its average volume of 89,378. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The business's fifty day moving average price is $1,789.34 and its 200-day moving average price is $1,994.20. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates 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 research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares's payout ratio is presently 4.47%.

Analyst Ratings Changes

FCNCA has been the subject of several recent research reports. Barclays cut their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Jefferies Financial Group initiated coverage on First Citizens BancShares in a report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. The Goldman Sachs Group cut their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Finally, Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig L. Nix bought 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were purchased 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 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 disclosure for this purchase can be found here. 13.19% of the stock is currently owned by corporate insiders.

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.