Allspring Global Investments Holdings LLC Sells 259 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Allspring Global Investments Holdings LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,507 shares of the bank’s stock after selling 259 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Citizens BancShares were worth $22,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $33,000. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Brooklyn Investment Group acquired a new position in First Citizens BancShares in the third quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in First Citizens BancShares by 16.1% during the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock worth $152,000 after buying an additional 10 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares during the period. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 1.6 %

Shares of First Citizens BancShares stock opened at $2,141.49 on Friday. The firm has a market cap of $29.96 billion, a PE ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85. The business’s 50 day simple moving average is $2,143.80 and its 200 day simple moving average is $2,065.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52-week low of $1,475.85 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts predict that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCNCA. UBS Group began coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

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.