Level Four Advisory Services LLC Reduces Position in First Citizens BancShares, Inc. $FCNCA

Level Four Advisory Services LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of First Citizens BancShares during the third quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after buying an additional 8 shares during the period. Steph & Co. bought a new stake in shares of First Citizens BancShares in the 3rd quarter worth approximately $32,000. Root Financial Partners LLC purchased a new position in shares of First Citizens BancShares during the third quarter valued at approximately $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 2.7%

Shares of FCNCA opened at $1,950.00 on Tuesday. The firm has a fifty day moving average price of $2,098.08 and a 200-day moving average price of $1,957.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $24.26 billion, a P/E ratio of 11.77 and a beta of 0.68. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Equities research analysts expect 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 will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FCNCA. Zacks Research lowered shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Truist Financial increased their target price 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. Finally, Piper Sandler lifted their price target on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares 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.