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

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

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,188.94 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day moving average is $2,167.50 and its 200-day moving average is $2,020.28. First Citizens BancShares has a 52-week low of $1,371.77 and a 52-week high of $2,388.78. The company has a market cap of $30.62 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $55.92 earnings per share. Equities research analysts anticipate that First Citizens BancShares will post 186.98 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price objective 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. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,290.75.

Institutional Trading of First Citizens BancShares

A number of large investors have recently bought and sold shares of the stock. Raymond James & Associates grew its stake in First Citizens BancShares by 5.1% during the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after buying an additional 811 shares during the last quarter. Balentine LLC acquired a new position in shares of First Citizens BancShares in the 3rd quarter worth approximately $3,564,000. Hiddenite Capital Partners LP grew its position in First Citizens BancShares by 14.1% during the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after acquiring an additional 400 shares during the last quarter. Retireful LLC acquired a new stake in First Citizens BancShares during the 3rd quarter valued at $801,000. Finally, Oliver Luxxe Assets LLC increased its holdings in First Citizens BancShares by 22.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after purchasing an additional 537 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

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.