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

Level Four Advisory Services LLC increased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,838 shares of the bank's stock after purchasing 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.

Several other hedge funds have also recently added to or reduced their stakes in FCNCA. Charles Schwab Investment Management Inc. lifted its stake in First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock worth $86,812,000 after acquiring an additional 1,339 shares in the last quarter. Cerity Partners LLC grew its stake in First Citizens BancShares by 34.0% in the third quarter. Cerity Partners LLC now owns 1,290 shares of the bank's stock valued at $2,375,000 after purchasing an additional 327 shares in the last quarter. Private Trust Co. NA raised its stake 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 purchasing an additional 84 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in First Citizens BancShares by 16.6% in the third quarter. The Manufacturers Life Insurance Company now owns 6,628 shares of the bank's stock valued at $12,202,000 after acquiring an additional 946 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd bought a new position in shares of First Citizens BancShares during the 3rd quarter valued at $876,000. Institutional investors and hedge funds own 78.01% of the company's stock.

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First Citizens BancShares Price Performance

Shares of FCNCA stock traded down $23.57 during mid-day trading on Tuesday, reaching $1,830.55. The company's stock had a trading volume of 19,615 shares, compared to its average volume of 85,944. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm's 50-day moving average is $2,018.88 and its two-hundred day moving average is $2,055.75. First Citizens BancShares, Inc. has a 1-year low of $1,518.00 and a 1-year high of $2,412.93. The company has a market cap of $24.85 billion, a P/E ratio of 9.64, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.40% of the company's stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of several analyst reports. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price target on the stock. UBS Group initiated coverage on 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. Finally, Citigroup lowered First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,288.08.

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.