Wellington Management Group LLP Lowers Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Wellington Management Group LLP lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 47.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,968 shares of the bank’s stock after selling 71,716 shares during the period. Wellington Management Group LLP owned 0.58% of First Citizens BancShares worth $166,861,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Financial Life Planners bought a new stake in First Citizens BancShares in the fourth quarter worth $33,000. Hemington Wealth Management boosted its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in First Citizens BancShares during the 4th quarter valued at about $36,000. Mather Group LLC. increased its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in First Citizens BancShares in the fourth quarter worth about $38,000. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FCNCA. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods increased their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group decreased their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Barclays upped their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,859.58 on Thursday. The firm’s 50 day simple moving average is $2,003.56 and its two-hundred day simple moving average is $2,054.31. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $25.25 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 1-year low of $1,518.00 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost 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 owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.19% of the stock is owned by corporate insiders.

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.