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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 285,000 shares, an increase of 9.7% from the March 15th total of 259,700 shares. Based on an average trading volume of 83,300 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on FCNCA shares. Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. UBS Group upped their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Barclays initiated coverage on shares of First Citizens BancShares in a research report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and a consensus target price of $1,768.63.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,532.51 on Wednesday. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,651.73. The company’s 50-day moving average is $1,560.11 and its 200 day moving average is $1,465.25. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 1.95 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. Sell-side analysts expect that First Citizens BancShares will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.43%. The ex-dividend date was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant acquired 300 shares of the stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the acquisition, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Frank B. Holding, Jr. purchased 622 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the acquisition, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hope Holding Bryant purchased 300 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,388 shares of company stock worth $1,825,220. 12.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. bought a new position in First Citizens BancShares during the 1st quarter valued at about $31,000. Blue Trust Inc. lifted its stake in shares of First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares during the period. GAMMA Investing LLC bought a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $30,000. Lindbrook Capital LLC lifted its stake in shares of First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares during the period. Finally, Castleview Partners LLC bought a new position in shares of First Citizens BancShares in the 2nd quarter worth approximately $31,000. Institutional investors own 61.18% of the company’s stock.

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.