Allspring Global Investments Holdings LLC Has $164.25 Million Stock Position in First Citizens BancShares, Inc. $FCNCA

Allspring Global Investments Holdings LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 57.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,088 shares of the bank’s stock after purchasing an additional 27,789 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.61% of First Citizens BancShares worth $164,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of FCNCA. Goldman Sachs Group Inc. raised its stake in First Citizens BancShares by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after purchasing an additional 681 shares during the last quarter. Empowered Funds LLC raised its position in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after purchasing an additional 164 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of First Citizens BancShares by 5.2% during the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after purchasing an additional 12 shares during the last quarter. MAI Capital Management increased its stake in shares of First Citizens BancShares by 500.0% in the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in First Citizens BancShares by 19.0% during the 2nd quarter. Prudential Financial Inc. now owns 870 shares of the bank’s stock worth $1,702,000 after buying an additional 139 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a report on Tuesday, January 6th. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Zacks Research cut shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. JPMorgan Chase & Co. raised their price target on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Barclays dropped their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,238.27.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 92 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $1,550.00 per share, for a total transaction of $142,600.00. Following the completion of the acquisition, the chief executive officer owned 2,841 shares of the company’s stock, valued at $4,403,550. This trade represents a 3.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 258 shares of company stock worth $404,236 over the last ninety days. 13.19% of the stock is owned by insiders.

First Citizens BancShares Trading Up 0.6%

FCNCA opened at $1,847.00 on Tuesday. The firm has a 50 day simple moving average of $1,973.44 and a 200 day simple moving average of $1,942.48. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 11.15 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.