First Citizens BancShares, Inc. (NASDAQ:FCNCA) Short Interest Down 19.0% in February

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 264,200 shares, a decrease of 19.0% from the January 31st total of 326,000 shares. Based on an average daily volume of 74,900 shares, the days-to-cover ratio is presently 3.5 days.

Hedge Funds Weigh In On First Citizens BancShares

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

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded down $76.04 on Tuesday, hitting $1,913.58. The company’s stock had a trading volume of 67,068 shares, compared to its average volume of 66,164. The company has a market capitalization of $25.98 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. First Citizens BancShares has a 52-week low of $1,505.73 and a 52-week high of $2,412.93. The firm has a fifty day moving average price of $2,136.29 and a 200-day moving average price of $2,073.03. 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 (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) 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%. On average, equities research analysts expect that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial increased their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays increased their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.