Level Four Advisory Services LLC Has $10.22 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Level Four Advisory Services LLC boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.2% in the fourth quarter, HoldingsChannel reports. The firm owned 4,838 shares of the bank’s stock after buying an additional 407 shares during the period. Level Four Advisory Services LLC’s holdings in First Citizens BancShares were worth $10,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCNCA. JPMorgan Chase & Co. boosted its holdings in First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after acquiring an additional 103,137 shares in the last quarter. FMR LLC raised its position in shares of First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares during the period. Norges Bank acquired a new position in shares of First Citizens BancShares during the fourth quarter worth approximately $298,426,000. Proficio Capital Partners LLC bought a new position in shares of First Citizens BancShares in the 4th quarter worth $147,341,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock valued at $107,749,000 after purchasing an additional 7,613 shares during the period. 78.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised 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 note on Monday, January 27th. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective for the company in a report on Tuesday, March 11th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Stock Up 0.1 %

First Citizens BancShares stock opened at $1,880.07 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $25.53 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. The firm has a 50 day moving average price of $2,032.66 and a 200-day moving average price of $2,052.77.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.40% of the stock is owned by company 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.