Short Interest in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Grows By 14.8%

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 266,400 shares, a growth of 14.8% from the May 31st total of 232,000 shares. Based on an average daily volume of 80,900 shares, the short-interest ratio is presently 3.3 days.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the transaction, the director now directly owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total value of $903,000.00. Following the sale, the director now owns 819 shares in the company, valued at $1,433,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the sale, the director now owns 2,335 shares in the company, valued at approximately $4,124,170.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $5,273,568. Insiders own 12.85% of the company’s stock.

Institutional Trading of First Citizens BancShares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in First Citizens BancShares by 2.9% during the 1st quarter. Covestor Ltd now owns 215 shares of the bank’s stock valued at $352,000 after purchasing an additional 6 shares during the last quarter. Lincoln National Corp boosted its stake in First Citizens BancShares by 2.6% during the 4th quarter. Lincoln National Corp now owns 277 shares of the bank’s stock valued at $393,000 after purchasing an additional 7 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in First Citizens BancShares by 4.4% during the 4th quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock valued at $234,000 after purchasing an additional 7 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in First Citizens BancShares by 4.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock valued at $229,000 after purchasing an additional 7 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in First Citizens BancShares by 1.6% during the 1st quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock valued at $736,000 after purchasing an additional 7 shares during the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 0.2 %

Shares of NASDAQ:FCNCA opened at $1,683.61 on Monday. The business has a fifty day simple moving average of $1,701.66 and a 200 day simple moving average of $1,575.10. First Citizens BancShares has a 12-month low of $1,232.00 and a 12-month high of $1,810.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77. The firm has a market cap of $24.46 billion, a P/E ratio of 9.35 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, topping the consensus estimate of $44.27 by $8.65. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.30 billion. Analysts predict that First Citizens BancShares will post 188.62 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, May 31st. First Citizens BancShares’s payout ratio is 3.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FCNCA shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 price target (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. DA Davidson reissued a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Piper Sandler downgraded First Citizens BancShares from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. Finally, The Goldman Sachs Group started coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1,836.00.

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.