Allspring Global Investments Holdings LLC Has $20.58 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Allspring Global Investments Holdings LLC boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3,280.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,501 shares of the bank's stock after purchasing an additional 14,072 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of First Citizens BancShares worth $20,577,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FCNCA. Vanguard Group Inc. increased its stake in First Citizens BancShares by 106.0% in the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank's stock valued at $735,855,000 after purchasing an additional 568,929 shares during the last quarter. Invesco Ltd. increased its stake in First Citizens BancShares by 113.0% in the first quarter. Invesco Ltd. now owns 371,016 shares of the bank's stock valued at $246,949,000 after purchasing an additional 196,851 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in First Citizens BancShares during the first quarter worth about $158,509,000. Imprint Wealth LLC acquired a new stake in First Citizens BancShares during the second quarter worth about $15,016,000. Finally, State Street Corp raised its holdings in shares of First Citizens BancShares by 53.7% in the 1st quarter. State Street Corp now owns 402,593 shares of the bank's stock worth $267,966,000 after purchasing an additional 140,626 shares during the period. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $31.83 during midday trading on Friday, reaching $1,569.17. 63,053 shares of the company traded hands, compared to its average volume of 72,501. The company has a fifty day moving average price of $1,559.06 and a 200 day moving average price of $1,463.00. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 2.00 and a beta of 0.89. First Citizens BancShares, Inc. has a twelve month low of $945.32 and a twelve month high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, analysts expect that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares's dividend payout ratio is presently 0.84%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 622 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares of the company's stock, valued at $128,355,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Frank B. Holding, Jr. bought 622 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares of the company's stock, valued at $128,355,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 1,388 shares of company stock valued at $1,825,220. Corporate insiders own 13.40% of the company's stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of research reports. StockNews.com downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Wednesday, April 3rd. DA Davidson reiterated a "neutral" rating on shares of First Citizens BancShares in a report on Monday, January 15th. Wedbush reiterated an "outperform" rating and set a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a "buy" rating and a $1,950.00 target price on the stock. Finally, Barclays assumed coverage on First Citizens BancShares in a report on Thursday. They set an "equal weight" rating and a $1,850.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Hold" and a consensus price target of $1,785.57.

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.