First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3,280.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,501 shares of the bank’s stock after acquiring an additional 14,072 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of First Citizens BancShares worth $20,577,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in First Citizens BancShares in the 4th quarter valued at $26,176,000. Bleakley Financial Group LLC boosted its stake in First Citizens BancShares by 12.6% during the 4th quarter. Bleakley Financial Group LLC now owns 196 shares of the bank’s stock worth $278,000 after purchasing an additional 22 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in First Citizens BancShares during the 4th quarter worth $204,000. Nisa Investment Advisors LLC boosted its stake in First Citizens BancShares by 24.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,038 shares of the bank’s stock worth $2,892,000 after purchasing an additional 405 shares during the last quarter. Finally, Tritonpoint Wealth LLC acquired a new stake in First Citizens BancShares during the 4th quarter worth $284,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCNCA. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. Barclays began coverage on First Citizens BancShares in a report on Thursday. They set an “equal weight” rating and a $1,850.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, UBS Group lifted their price target 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and a consensus price target of $1,785.57.

First Citizens BancShares Stock Down 2.0 %

Shares of FCNCA opened at $1,569.17 on Friday. The firm has a market cap of $22.78 billion, a P/E ratio of 2.00 and a beta of 0.89. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,651.73. The company’s 50-day moving average price is $1,559.06 and its 200 day moving average price is $1,462.34. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

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

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 0.84%.

Insider Activity at First Citizens BancShares

In other news, insider Hope Holding Bryant bought 300 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Hope Holding Bryant bought 300 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Olivia Britton Holding bought 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was purchased 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 owns 121,694 shares in the company, valued at $160,027,610. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock worth $1,825,220. Company insiders own 13.40% of the company’s stock.

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.