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

Allspring Global Investments Holdings LLC lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,507 shares of the bank's stock after selling 259 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of First Citizens BancShares worth $22,104,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FCNCA. Raymond James & Associates boosted its stake in shares of First Citizens BancShares by 5.1% in the third quarter. Raymond James & Associates now owns 16,826 shares of the bank's stock valued at $30,976,000 after buying an additional 811 shares during the period. Balentine LLC bought a new stake in shares of First Citizens BancShares in the third quarter valued at approximately $3,564,000. Hiddenite Capital Partners LP boosted its stake in shares of First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank's stock valued at $5,946,000 after buying an additional 400 shares during the period. Retireful LLC bought a new stake in shares of First Citizens BancShares in the third quarter valued at approximately $801,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 0.4 %

NASDAQ FCNCA traded down $8.73 on Wednesday, reaching $2,156.78. The company had a trading volume of 50,928 shares, compared to its average volume of 67,924. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a fifty-two week low of $1,475.85 and a fifty-two week high of $2,412.93. The business has a 50 day moving average of $2,143.58 and a two-hundred day moving average of $2,066.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. The Goldman Sachs Group boosted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price objective for the company. Wedbush lowered their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Finally, Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,323.50.

First Citizens BancShares Company 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.