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

Wellington Management Group LLP trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 47.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,968 shares of the bank's stock after selling 71,716 shares during the period. Wellington Management Group LLP owned approximately 0.58% of First Citizens BancShares worth $166,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares during the fourth quarter valued at approximately $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% during the 4th 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 last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the 4th quarter valued at $36,000. Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% in 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 last quarter. Finally, Asset Planning Inc bought a new stake in shares of First Citizens BancShares in the fourth quarter worth $38,000. Institutional investors own 78.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Barclays raised their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price target on the stock. Finally, StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $2,288.08.

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First Citizens BancShares Price Performance

Shares of FCNCA traded down $60.85 during midday trading on Friday, hitting $1,571.21. 259,716 shares of the company traded hands, compared to its average volume of 87,131. First Citizens BancShares, Inc. has a 52 week low of $1,470.15 and a 52 week high of $2,412.93. 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 firm has a 50 day moving average of $1,978.80 and a 200-day moving average of $2,049.30. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, February 28th. First Citizens BancShares's dividend payout ratio is presently 4.12%.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction 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 directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.19% of the stock is owned by 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.