Mayport LLC Has $1.09 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mayport LLC trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 769 shares of the bank’s stock after selling 54 shares during the period. Mayport LLC’s holdings in First Citizens BancShares were worth $1,091,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in First Citizens BancShares by 106.0% during the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock worth $735,855,000 after acquiring an additional 568,929 shares in the last quarter. Wellington Management Group LLP increased its position in shares of 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 during the last quarter. State Street Corp raised its stake in shares of 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. grew its stake in shares of First Citizens BancShares by 113.0% in the first quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock valued at $246,949,000 after buying an additional 196,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in First Citizens BancShares by 88.8% during the first quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank’s stock worth $179,001,000 after buying an additional 126,483 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Olivia Britton Holding purchased 466 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,388 shares of company stock worth $1,825,220. Company insiders own 12.85% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded down $6.61 during midday trading on Thursday, hitting $1,601.00. The stock had a trading volume of 74,673 shares, compared to its average volume of 82,401. The company’s 50-day moving average price is $1,555.77 and its 200-day moving average price is $1,459.27. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,651.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $23.25 billion, a P/E ratio of 2.03 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. As a group, equities research analysts predict that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.41%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 0.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating on shares of First Citizens BancShares in a report on Monday, January 15th. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target on the stock. Barclays began coverage on First Citizens BancShares in a report on Thursday. They set an “equal weight” rating and a $1,850.00 price objective for the company. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Finally, UBS Group lifted their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued 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 $1,785.57.

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.