First Citizens BancShares, Inc. (NASDAQ:FCNCA) Short Interest Up 22.4% in February

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 323,400 shares, an increase of 22.4% from the February 13th total of 264,200 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 73,800 shares, the short-interest ratio is presently 4.4 days.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares during the period. FMR LLC increased its stake in shares of First Citizens BancShares by 10.5% in the fourth quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after purchasing an additional 34,097 shares during the period. Capital International Investors lifted its position in shares of First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Norges Bank bought a new stake in First Citizens BancShares during the 4th quarter valued at approximately $298,426,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Citizens BancShares by 83.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank’s stock valued at $227,198,000 after purchasing an additional 48,994 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.3 %

Shares of FCNCA traded up $24.63 during midday trading on Wednesday, hitting $1,859.78. The stock had a trading volume of 18,296 shares, compared to its average volume of 71,502. First Citizens BancShares has a fifty-two week low of $1,517.99 and a fifty-two week high of $2,412.93. The business has a 50-day simple moving average of $2,066.19 and a two-hundred day simple moving average of $2,058.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $25.25 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) 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, equities analysts forecast that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Analysts Set New Price Targets

Several research firms have commented on FCNCA. UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. Barclays upped their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. The Goldman Sachs Group lowered their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.