Short Interest in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Expands By 22.4%

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 323,400 shares, a growth of 22.4% from the February 13th total of 264,200 shares. Based on an average daily trading volume, of 73,800 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.7% of the shares of the company are short sold.

First Citizens BancShares Trading Up 2.5 %

Shares of First Citizens BancShares stock opened at $1,881.93 on Thursday. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.94 and a beta of 0.81. The business has a 50-day moving average price of $2,061.95 and a 200-day moving average price of $2,057.59. 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 twelve month low of $1,518.00 and a twelve month 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 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%. Equities research analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Insider Activity

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after acquiring an additional 103,137 shares during the last quarter. FMR LLC lifted its stake in First Citizens BancShares by 10.5% in the fourth quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after purchasing an additional 34,097 shares during the last quarter. Capital International Investors lifted its stake in First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Norges Bank bought a new stake in First Citizens BancShares in the fourth quarter worth about $298,426,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in First Citizens BancShares by 83.7% in the fourth 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. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,288.08.

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.