Siemens Fonds Invest GmbH Takes $49.27 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Siemens Fonds Invest GmbH acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 23,315 shares of the bank’s stock, valued at approximately $49,265,000. First Citizens BancShares comprises approximately 2.4% of Siemens Fonds Invest GmbH’s investment portfolio, making the stock its 8th largest position. Siemens Fonds Invest GmbH owned 0.17% of First Citizens BancShares as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management lifted its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new position in First Citizens BancShares during the fourth quarter worth about $36,000. Mather Group LLC. grew its position in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $38,000. Institutional investors own 78.01% of the company’s stock.

Insider Activity

In related news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 0.2%

First Citizens BancShares stock opened at $1,966.55 on Friday. The stock has a 50-day simple moving average of $1,780.28 and a 200 day simple moving average of $2,008.55. The stock has a market capitalization of $26.70 billion, a P/E ratio of 10.38, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. Analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. TD Cowen started coverage on shares of First Citizens BancShares in a research report on Thursday. They set a “buy” rating and a $2,400.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Barclays dropped their price objective 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. Finally, Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,336.58.

First Citizens BancShares 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.