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

Key Points

• Level Four Advisory Services LLC has increased its stake in First Citizens BancShares by 4.7% during the first quarter, bringing its holdings to a total value of $9.39 million.
• Several institutional investors have also increased their positions, with Mariner LLC boosting its stake by 26.8% in the fourth quarter, highlighting growing investor interest.
• The stock is currently down 1.5% and analysts have set a consensus price target of $2,291.17, indicating bullish sentiments despite recent price fluctuations.

Level Four Advisory Services LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 4.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,065 shares of the bank's stock after acquiring an additional 227 shares during the period. Level Four Advisory Services LLC's holdings in First Citizens BancShares were worth $9,392,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of First Citizens BancShares by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank's stock valued at $743,815,000 after acquiring an additional 9,070 shares during the last quarter. Egerton Capital UK LLP lifted its stake in shares of First Citizens BancShares by 21.7% in the 1st quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank's stock valued at $231,344,000 after acquiring an additional 22,257 shares during the last quarter. GAMMA Investing LLC raised its position in First Citizens BancShares by 169,861.1% during the 1st quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock worth $226,892,000 after purchasing an additional 122,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Citizens BancShares by 83.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank's stock worth $227,198,000 after purchasing an additional 48,994 shares during the last quarter. Finally, Nuveen LLC bought a new position in First Citizens BancShares during the 1st quarter worth $149,963,000. 78.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Cowen reaffirmed a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. TD Cowen assumed coverage on First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price for the company. Citigroup raised their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price for the company. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,291.17.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 600 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the acquisition, the chief executive officer owned 32,300 shares in the company, valued at approximately $54,869,625. This trade represents a 1.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Olivia Britton Holding acquired 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the acquisition, the insider owned 1,764 shares of the company's stock, valued at $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,494 shares of company stock valued at $2,485,986. Company insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA traded up $50.36 on Friday, hitting $1,987.99. 155,176 shares of the stock traded hands, compared to its average volume of 140,911. The business's fifty day moving average is $1,982.21 and its two-hundred day moving average is $1,903.48. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 11.73 and a beta of 0.64. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, beating the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.21 billion. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, August 29th. First Citizens BancShares's dividend payout ratio is 4.60%.

First Citizens BancShares 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.