Ulysses Management LLC Has $2.11 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Ulysses Management LLC lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the bank’s stock after selling 900 shares during the quarter. First Citizens BancShares makes up approximately 0.3% of Ulysses Management LLC’s investment portfolio, making the stock its 26th largest position. Ulysses Management LLC’s holdings in First Citizens BancShares were worth $2,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vident Advisory LLC raised its stake in shares of First Citizens BancShares by 3,688.9% during the 4th quarter. Vident Advisory LLC now owns 11,594 shares of the bank’s stock worth $24,498,000 after purchasing an additional 11,288 shares during the period. Toronto Dominion Bank boosted its stake in First Citizens BancShares by 6.3% in the fourth quarter. Toronto Dominion Bank now owns 1,300 shares of the bank’s stock worth $2,747,000 after buying an additional 77 shares in the last quarter. Snowden Capital Advisors LLC boosted its stake in shares of First Citizens BancShares by 7.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 241 shares of the bank’s stock valued at $509,000 after purchasing an additional 16 shares during the period. Siemens Fonds Invest GmbH purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $49,265,000. Finally, Quantinno Capital Management LP raised its holdings in shares of First Citizens BancShares by 60.3% during the fourth quarter. Quantinno Capital Management LP now owns 508 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 191 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 0.8%

FCNCA stock opened at $1,937.79 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The stock has a market capitalization of $25.75 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 company has a fifty day moving average of $1,788.42 and a 200-day moving average of $2,009.45.

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

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.40%. First Citizens BancShares’s payout ratio is 4.47%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 350 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758 shares of the company’s stock, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of several analyst reports. The Goldman Sachs Group reduced 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. Cowen started coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. TD Cowen initiated coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price objective on the stock. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Finally, Barclays cut their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,336.58.

First Citizens BancShares Company 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.