Wellington Management Group LLP Has $141.12 Million Stock Position in First Citizens BancShares, Inc. $FCNCA

Wellington Management Group LLP lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.6% in the first quarter, HoldingsChannel reports. The fund owned 76,114 shares of the bank’s stock after selling 2,854 shares during the period. Wellington Management Group LLP’s holdings in First Citizens BancShares were worth $141,124,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. JT Stratford LLC boosted its position in First Citizens BancShares by 0.4% during the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank’s stock worth $2,635,000 after acquiring an additional 5 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position 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 worth $32,000 after acquiring an additional 6 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of First Citizens BancShares by 3.8% in the first quarter. Cresset Asset Management LLC now owns 163 shares of the bank’s stock valued at $302,000 after acquiring an additional 6 shares during the last quarter. M&T Bank Corp increased its position in shares of First Citizens BancShares by 1.3% in the first quarter. M&T Bank Corp now owns 632 shares of the bank’s stock valued at $1,172,000 after acquiring an additional 8 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of First Citizens BancShares by 3.8% in the first quarter. Venturi Wealth Management LLC now owns 221 shares of the bank’s stock valued at $410,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.6%

FCNCA stock opened at $1,931.34 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $24.95 billion, a PE ratio of 11.40 and a beta of 0.64. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The business’s 50 day simple moving average is $1,976.90 and its 200 day simple moving average is $1,907.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.60%.

Insiders Place Their Bets

In related news, major shareholder Olivia Britton Holding acquired 409 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hope Holding Bryant acquired 409 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. The trade was a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 1,494 shares of company stock worth $2,485,986 over the last three months. Insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of recent research reports. Barclays lowered their target price 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 lifted their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Cowen reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. UBS Group reiterated a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Finally, Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $2,291.17.

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.