First Citizens BancShares, Inc. (NASDAQ:FCNCA) Sees Significant Drop in Short Interest

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 326,000 shares, a decline of 6.2% from the January 15th total of 347,700 shares. Based on an average daily volume of 82,500 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. UBS Group began coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price target for the company. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,323.50.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCNCA. Ascent Group LLC bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $201,000. Castlekeep Investment Advisors LLC bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $66,972,000. Toronto Dominion Bank grew its position in shares of First Citizens BancShares by 6.3% during the 4th quarter. Toronto Dominion Bank now owns 1,300 shares of the bank's stock valued at $2,747,000 after acquiring an additional 77 shares during the period. GTS Securities LLC bought a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $201,000. Finally, JT Stratford LLC grew its position in shares of First Citizens BancShares by 0.4% during the 4th 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. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Down 3.2 %

NASDAQ:FCNCA traded down $67.86 on Friday, hitting $2,049.25. The stock had a trading volume of 72,498 shares, compared to its average volume of 67,621. 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 stock has a market cap of $28.67 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. First Citizens BancShares has a 1 year low of $1,500.94 and a 1 year high of $2,412.93. The firm's fifty day simple moving average is $2,145.78 and its two-hundred day simple moving average is $2,069.58.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 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%. Analysts predict that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.38%. First Citizens BancShares's dividend payout ratio (DPR) is 4.12%.

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.