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

First Citizens BancShares, Inc. (NASDAQ:FCNCO) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 11,125 shares, a drop of 28.2% from the January 15th total of 15,490 shares. Based on an average daily volume of 13,440 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 13,440 shares, the days-to-cover ratio is presently 0.8 days.

First Citizens BancShares Trading Up 0.6%

FCNCO traded up $0.13 on Monday, reaching $22.40. 10,289 shares of the company traded hands, compared to its average volume of 12,560. First Citizens BancShares has a one year low of $20.57 and a one year high of $23.91. The firm has a fifty day simple moving average of $21.69 and a two-hundred day simple moving average of $22.37.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.3516 per share. This represents a $1.41 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, February 27th.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full-service commercial bank headquartered in Raleigh, North Carolina. Established in 1898, the company operates a network of branches across the United States, with a strong presence in the Southeast, Mid-Atlantic and select Western markets. As a publicly traded company listed on NASDAQ under the ticker FCNCO, First Citizens BancShares serves both retail and institutional clients through a diversified platform of banking services.

The company’s core business activities include deposit taking, commercial and consumer lending, and mortgage origination.