Level Four Advisory Services LLC Sells 339 Shares of First Citizens BancShares, Inc. $FCNCA

Level Four Advisory Services LLC decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,967 shares of the bank’s stock after selling 339 shares during the quarter. Level Four Advisory Services LLC’s holdings in First Citizens BancShares were worth $8,888,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock valued at $778,785,000 after acquiring an additional 18,190 shares during the period. Norges Bank bought a new stake in First Citizens BancShares during the second quarter valued at about $177,604,000. Reinhart Partners LLC. grew its stake in First Citizens BancShares by 1.4% in the third quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock valued at $125,715,000 after purchasing an additional 969 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in First Citizens BancShares by 2.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock worth $118,578,000 after purchasing an additional 1,450 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of First Citizens BancShares by 15.7% during the second quarter. Bank of America Corp DE now owns 65,101 shares of the bank’s stock valued at $127,369,000 after buying an additional 8,826 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,950.00 on Tuesday. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The business’s 50 day moving average price is $2,098.08 and its 200 day moving average price is $1,957.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm has a market cap of $24.26 billion, a P/E ratio of 11.77 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating the consensus estimate of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is presently 5.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FCNCA shares. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $2,100.00 to $2,200.00 in a research note on Thursday, November 20th. Truist Financial upped their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Zacks Research lowered First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, Piper Sandler lifted their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.