First Citizens BancShares, Inc. (NASDAQ:FCNCA) Short Interest Update

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) was the target of 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 daily volume of 86,800 shares, the days-to-cover ratio is currently 4.9 days.

First Citizens BancShares Stock Up 1.5 %

NASDAQ FCNCA traded up $32.93 during trading hours on Friday, hitting $2,188.94. The company had a trading volume of 51,697 shares, compared to its average volume of 62,798. The firm's 50 day moving average is $2,167.50 and its 200 day moving average is $2,020.28. The company has a market capitalization of $30.62 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.96 and a beta of 0.86. First Citizens BancShares has a fifty-two week low of $1,371.77 and a fifty-two week high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the prior year, the business earned $55.92 EPS. Sell-side analysts anticipate that First Citizens BancShares will post 186.98 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush decreased 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. Barclays upped their price target on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. Keefe, Bruyette & Woods raised First Citizens BancShares from a "market perform" rating to an "outperform" rating and set a $2,500.00 target price on the stock in a research note on Tuesday, January 14th. Finally, StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2,290.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after acquiring an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after purchasing an additional 18,501 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock worth $107,749,000 after purchasing an additional 7,613 shares during the period. Reinhart Partners LLC. increased its stake in First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock valued at $122,516,000 after purchasing an additional 1,183 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock worth $86,812,000 after purchasing an additional 1,339 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

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.