First Citizens BancShares, Inc. (NASDAQ:FCNCP) Sees Large Decline in Short Interest

First Citizens BancShares, Inc. (NASDAQ:FCNCP) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 3,090 shares, a drop of 77.7% from the August 15th total of 13,880 shares. Based on an average daily trading volume, of 16,888 shares, the days-to-cover ratio is currently 0.2 days.

First Citizens BancShares Trading Down 0.4%

First Citizens BancShares stock traded down $0.08 during midday trading on Friday, reaching $19.30. The stock had a trading volume of 5,192 shares, compared to its average volume of 16,526. First Citizens BancShares has a 12 month low of $19.30 and a 12 month high of $22.84. The firm’s 50-day moving average price is $20.03 and its 200 day moving average price is $20.62.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.3359 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.34 annualized dividend and a yield of 7.0%.

About First Citizens BancShares

First Citizens BancShares, Inc, headquartered in Raleigh, North Carolina, is a bank holding company and the parent of First Citizens Bank & Trust Company. Established in 1898, the institution has maintained a family‐controlled ownership structure, with members of the Holding family continuing to guide its strategic direction. Over more than a century of operation, First Citizens has built a reputation for conservative management and a focus on customer relationships.

The company’s core business activities encompass retail and commercial banking services.