Short Interest in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Increases By 13.1%

First Citizens BancShares, Inc. (NASDAQ:FCNCA) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 425,500 shares, a growth of 13.1% from the December 31st total of 376,100 shares. Based on an average daily trading volume, of 86,800 shares, the days-to-cover ratio is currently 4.9 days.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $62.68 during trading hours on Monday, reaching $2,142.01. 64,536 shares of the stock were exchanged, compared to its average volume of 75,540. The stock has a market capitalization of $29.97 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.00 and a beta of 0.85. The firm has a 50 day simple moving average of $2,164.29 and a 200-day simple moving average of $2,052.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 52 week low of $1,438.08 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side analysts forecast that First Citizens BancShares will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is currently 4.12%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FCNCA. M&T Bank Corp lifted its position in First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. lifted its holdings in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the period. Private Advisor Group LLC boosted its stake in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after buying an additional 5 shares in the last quarter. Metis Global Partners LLC grew its holdings in First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares during the period. Finally, Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FCNCA. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Barclays raised their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

About First Citizens BancShares

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.