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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 419,800 shares, a growth of 11.1% from the November 15th total of 377,900 shares. Based on an average daily trading volume, of 94,100 shares, the days-to-cover ratio is presently 4.5 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FCNCA shares. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Wedbush lowered their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Citigroup raised shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,157.64.

Institutional Investors Weigh In On First Citizens BancShares

A number of large investors have recently modified their holdings of FCNCA. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth approximately $39,000. Gradient Investments LLC purchased a new position in First Citizens BancShares during the second quarter worth approximately $52,000. Blue Trust Inc. lifted its position in First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after buying an additional 36 shares in the last quarter. GAMMA Investing LLC boosted its stake in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.8 %

FCNCA opened at $2,123.44 on Tuesday. The company has a market cap of $29.70 billion, a PE ratio of 12.17 and a beta of 0.83. First Citizens BancShares has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The company has a 50-day moving average price of $2,117.01 and a 200 day moving average price of $1,943.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced 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). The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $55.92 EPS. Sell-side analysts expect that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

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.