Bleakley Financial Group LLC Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bleakley Financial Group LLC grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196 shares of the bank’s stock after buying an additional 22 shares during the period. Bleakley Financial Group LLC’s holdings in First Citizens BancShares were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of First Citizens BancShares by 106.0% during the 1st quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock valued at $735,855,000 after buying an additional 568,929 shares during the last quarter. Wellington Management Group LLP lifted its holdings in First Citizens BancShares by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 594,276 shares of the bank’s stock worth $395,550,000 after purchasing an additional 140,410 shares in the last quarter. State Street Corp lifted its holdings in First Citizens BancShares by 53.7% during the 1st quarter. State Street Corp now owns 402,593 shares of the bank’s stock worth $267,966,000 after purchasing an additional 140,626 shares in the last quarter. Invesco Ltd. lifted its holdings in First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock worth $246,949,000 after purchasing an additional 196,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in First Citizens BancShares by 88.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank’s stock worth $179,001,000 after purchasing an additional 126,483 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Activity

In related news, CEO Frank B. Holding, Jr. bought 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the acquisition, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Frank B. Holding, Jr. bought 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the acquisition, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding bought 466 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the acquisition, the insider now directly owns 121,694 shares in the company, valued at $160,027,610. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,388 shares of company stock worth $1,825,220. 12.85% of the stock is currently owned by insiders.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $1,537.60 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $22.33 billion, a PE ratio of 1.96 and a beta of 0.89. The business’s 50-day moving average price is $1,559.12 and its 200-day moving average price is $1,464.18. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 0.84%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays assumed coverage on First Citizens BancShares in a report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective on the stock. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective on the stock. UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. DA Davidson reissued a “neutral” rating and set a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1,768.63.

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.