First Citizens BancShares, Inc. $FCNCA Stock Position Decreased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244 shares of the bank’s stock after selling 1,972 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in First Citizens BancShares were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. Zacks Research lowered First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Barclays lowered their price objective on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Piper Sandler lifted their price target on shares of 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,981.02 on Wednesday. The firm has a market capitalization of $24.64 billion, a PE ratio of 11.95 and a beta of 0.70. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The business’s 50 day moving average is $2,111.59 and its 200-day moving average is $1,955.05.

First Citizens BancShares (NASDAQ:FCNCA) last issued its 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 firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. Sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

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

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.