Level Four Advisory Services LLC Buys 407 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Level Four Advisory Services LLC grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,838 shares of the bank’s stock after acquiring an additional 407 shares during the quarter. Level Four Advisory Services LLC’s holdings in First Citizens BancShares were worth $10,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. JPMorgan Chase & Co. increased its holdings in shares of 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 increased its stake in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Norges Bank acquired a new stake in First Citizens BancShares during the 4th quarter worth approximately $298,426,000. Proficio Capital Partners LLC bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $147,341,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of First Citizens BancShares by 15.0% in the third 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 buying an additional 7,613 shares during the period. 78.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FCNCA. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average price target of $2,288.08.

First Citizens BancShares Trading Up 0.1 %

Shares of NASDAQ:FCNCA opened at $1,880.07 on Friday. The stock has a market cap of $25.53 billion, a PE ratio of 9.92, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12-month low of $1,518.00 and a 12-month high of $2,412.93. The business has a 50 day moving average of $2,032.66 and a 200-day moving average of $2,052.77.

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%. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were 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 of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 13.40% of the company’s stock.

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.