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

Allspring Global Investments Holdings LLC raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 76.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,618 shares of the bank’s stock after acquiring an additional 11,117 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.18% of First Citizens BancShares worth $41,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCNCA. Oliver Luxxe Assets LLC purchased a new stake in shares of First Citizens BancShares in the 1st quarter valued at about $3,911,000. First Bank & Trust lifted its stake in First Citizens BancShares by 5.6% in the first quarter. First Bank & Trust now owns 245 shares of the bank’s stock valued at $401,000 after buying an additional 13 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of First Citizens BancShares by 300.0% in the first quarter. Hennessy Advisors Inc. now owns 800 shares of the bank’s stock valued at $1,308,000 after acquiring an additional 600 shares during the period. Stonebridge Capital Management Inc. acquired a new stake in shares of First Citizens BancShares in the first quarter valued at approximately $203,000. Finally, Riverview Trust Co purchased a new position in shares of First Citizens BancShares during the first quarter worth approximately $49,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FCNCA shares. Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. DA Davidson reiterated a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a research report on Tuesday. Barclays increased their price objective on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $2,100.00 target price (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $1,842.40.

First Citizens BancShares Trading Down 0.7 %

Shares of FCNCA stock opened at $1,716.10 on Thursday. The business’s fifty day moving average price is $1,706.80 and its 200 day moving average price is $1,579.99. The firm has a market capitalization of $24.93 billion, a PE ratio of 9.53 and a beta of 0.83. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.10 and a quick ratio of 1.10. First Citizens BancShares, Inc. has a 1-year low of $1,241.05 and a 1-year high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping the consensus estimate of $44.27 by $8.65. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 190.55 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, May 31st. First Citizens BancShares’s payout ratio is currently 3.64%.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the sale, the director now directly owns 2,335 shares in the company, valued at $4,124,170.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ellen R. Alemany sold 484 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the sale, the director now owns 335 shares in the company, valued at $586,290.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany sold 1,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the transaction, the director now owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,000 shares of company stock worth $5,273,568. 12.85% of the stock is owned by insiders.

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.