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

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 264,200 shares, a decline of 19.0% from the January 31st total of 326,000 shares. Based on an average trading volume of 74,900 shares, the short-interest ratio is presently 3.5 days.

First Citizens BancShares Stock Up 1.2 %

Shares of FCNCA traded up $21.79 during mid-day trading on Friday, hitting $1,869.60. 89,163 shares of the company's stock were exchanged, compared to its average volume of 67,799. The company has a 50-day simple moving average of $2,119.94 and a 200 day simple moving average of $2,069.19. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $25.38 billion, a PE ratio of 9.87, a P/E/G 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued 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, research analysts forecast that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

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First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's payout ratio is presently 4.12%.

Institutional Trading of First Citizens BancShares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of First Citizens BancShares by 35.7% during the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after acquiring an additional 103,137 shares during the period. FMR LLC lifted its holdings in First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after purchasing an additional 34,097 shares during the last quarter. Capital International Investors boosted its position in First Citizens BancShares by 78.2% during 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 period. Norges Bank acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at $298,426,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $227,198,000 after purchasing an additional 48,994 shares during the period. 78.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FCNCA has been the subject of a number of analyst reports. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. The Goldman Sachs Group boosted their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. 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 objective for the company. Truist Financial boosted their target price on 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. Finally, UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,323.50.

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.