Ulysses Management LLC Sells 900 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Ulysses Management LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the bank's stock after selling 900 shares during the quarter. First Citizens BancShares accounts for 0.3% of Ulysses Management LLC's portfolio, making the stock its 26th largest position. Ulysses Management LLC's holdings in First Citizens BancShares were worth $2,113,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management raised its position in First Citizens BancShares by 60.0% in 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. acquired a new stake in First Citizens BancShares in the 4th quarter valued at approximately $36,000. Mather Group LLC. raised its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in First Citizens BancShares in the 4th quarter valued at approximately $38,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $18.77 during midday trading on Friday, hitting $1,822.27. 45,012 shares of the company's stock were exchanged, compared to its average volume of 89,010. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company's 50 day moving average price is $1,792.52 and its 200 day moving average price is $2,004.68. The firm has a market capitalization of $24.22 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's payout ratio is presently 4.47%.

Insider Activity

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of the stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig L. Nix acquired 17 shares of the stock in a transaction dated 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,340.33.

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.