Fuller & Thaler Asset Management Inc. Sells 3,039 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Fuller & Thaler Asset Management Inc. lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,604 shares of the bank's stock after selling 3,039 shares during the period. First Citizens BancShares accounts for 0.8% of Fuller & Thaler Asset Management Inc.'s portfolio, making the stock its 25th largest position. Fuller & Thaler Asset Management Inc. owned 0.69% of First Citizens BancShares worth $204,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC lifted its stake in First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after buying an additional 1,158 shares during the period. SkyView Investment Advisors LLC lifted its stake in First Citizens BancShares by 3.4% in the third quarter. SkyView Investment Advisors LLC now owns 735 shares of the bank's stock valued at $1,353,000 after buying an additional 24 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in First Citizens BancShares in the third quarter valued at about $5,400,000. Tidal Investments LLC lifted its stake in First Citizens BancShares by 95.6% in the third quarter. Tidal Investments LLC now owns 1,158 shares of the bank's stock valued at $2,132,000 after buying an additional 566 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in First Citizens BancShares in the third quarter valued at about $203,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Barclays lowered their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a report on Tuesday, March 11th. Finally, 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 for the company in a report on Tuesday, March 18th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,330.82.

Insider Activity

In related news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Down 0.8 %

Shares of NASDAQ:FCNCA traded down $14.55 during mid-day trading on Monday, reaching $1,764.72. 23,161 shares of the stock were exchanged, compared to its average volume of 87,183. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $23.96 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The stock's 50 day simple moving average is $1,816.51 and its 200-day simple moving average is $2,025.23.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given 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 dividend yield of 0.44%. First Citizens BancShares's payout ratio is 4.47%.

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.