Short Interest in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Declines By 6.2%

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 326,000 shares, a decrease of 6.2% from the January 15th total of 347,700 shares. Based on an average trading volume of 82,500 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently modified their holdings of the business. GTS Securities LLC bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $201,000. JT Stratford LLC increased its stake in First Citizens BancShares by 0.4% during the fourth quarter. JT Stratford LLC now owns 1,247 shares of the bank’s stock valued at $2,635,000 after acquiring an additional 5 shares during the period. Delta Investment Management LLC acquired a new position in First Citizens BancShares in the 4th quarter valued at approximately $241,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of First Citizens BancShares by 83.7% in 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 acquiring an additional 48,994 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of First Citizens BancShares by 3,688.9% during the 4th quarter. Vident Advisory LLC now owns 11,594 shares of the bank’s stock worth $24,498,000 after purchasing an additional 11,288 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,167.32 on Wednesday. The firm has a market capitalization of $30.32 billion, a PE ratio of 11.44, a PEG ratio of 0.96 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 1 year low of $1,475.85 and a 1 year high of $2,412.93. The firm’s fifty day simple moving average is $2,143.58 and its 200 day simple moving average is $2,066.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, sell-side analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler raised their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wedbush cut their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. UBS Group started coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.