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

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on FCNCA shares. UBS Group assumed coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 target price on the stock. Citigroup lowered shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. 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 raised 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 report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2,323.50.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently modified their holdings of the company. M&T Bank Corp increased its stake in First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank's stock valued at $1,117,000 after buying an additional 5 shares during the last quarter. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Private Advisor Group LLC increased its stake in shares of First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after purchasing an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC raised its holdings in shares of First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after purchasing an additional 5 shares during the period. Finally, Metis Global Partners LLC lifted its stake in First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock valued at $237,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded up $35.53 on Thursday, reaching $2,208.32. 36,175 shares of the stock were exchanged, compared to its average volume of 71,077. First Citizens BancShares has a one year low of $1,438.08 and a one year high of $2,412.93. The firm has a market cap of $30.89 billion, a PE ratio of 11.66, a P/E/G ratio of 1.00 and a beta of 0.85. 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 $2,154.07 and its 200-day moving average is $2,057.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts anticipate that First Citizens BancShares will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's payout ratio 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.