First Citizens BancShares, Inc. (NASDAQ:FCNCA) Short Interest Down 6.2% in January

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 326,000 shares, a decrease of 6.2% from the January 15th total of 347,700 shares. Based on an average trading volume of 82,500 shares, the days-to-cover ratio is currently 4.0 days.

First Citizens BancShares Trading Down 0.4 %

Shares of NASDAQ:FCNCA opened at $2,156.78 on Thursday. The stock has a 50 day moving average of $2,145.69 and a 200 day moving average of $2,068.13. The company has a market cap of $30.17 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. First Citizens BancShares has a 12-month low of $1,475.85 and a 12-month high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, equities research analysts expect that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in First Citizens BancShares during the 4th quarter worth about $33,000. Hemington Wealth Management boosted its stake in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $36,000. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in First Citizens BancShares in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays lifted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Piper Sandler increased their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

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.