Level Four Advisory Services LLC Buys 241 Shares of First Citizens BancShares, Inc. $FCNCA

Level Four Advisory Services LLC grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,306 shares of the bank’s stock after purchasing an additional 241 shares during the quarter. Level Four Advisory Services LLC’s holdings in First Citizens BancShares were worth $10,382,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. MAI Capital Management lifted its holdings in First Citizens BancShares by 500.0% in the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after buying an additional 15 shares during the period. SVB Wealth LLC bought a new stake in First Citizens BancShares in the first quarter worth approximately $35,000. Creekmur Asset Management LLC acquired a new position in First Citizens BancShares in the second quarter valued at approximately $39,000. Allworth Financial LP boosted its holdings in shares of First Citizens BancShares by 35.3% during the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after buying an additional 6 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in shares of First Citizens BancShares by 32.1% during the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock worth $67,000 after buying an additional 9 shares during the period. 78.01% of the stock is owned by institutional investors.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany bought 300 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the director directly owned 300 shares in the company, valued at approximately $300,000. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Stock Up 0.6%

FCNCA stock opened at $1,889.85 on Friday. The firm has a market capitalization of $23.50 billion, a PE ratio of 11.17 and a beta of 0.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The stock’s 50 day moving average is $1,796.86 and its 200-day moving average is $1,894.89.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, beating analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, November 28th. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Weiss Ratings lowered First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Finally, Truist Financial boosted their price objective on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,165.83.

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.