First Citizens BancShares, Inc. (NASDAQ:FCNCA) Short Interest Update

First Citizens BancShares, Inc. (NASDAQ:FCNCA) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 285,000 shares, a growth of 9.7% from the March 15th total of 259,700 shares. Based on an average trading volume of 83,300 shares, the short-interest ratio is presently 3.4 days.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Olivia Britton Holding acquired 466 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,388 shares of company stock valued at $1,825,220. Company insiders own 12.85% of the company’s stock.

Institutional Investors Weigh In On First Citizens BancShares

Several large investors have recently modified their holdings of FCNCA. Mather Group LLC. acquired a new stake in First Citizens BancShares in the first quarter worth $31,000. Blue Trust Inc. grew its holdings in First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares during the period. GAMMA Investing LLC acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at about $30,000. Lindbrook Capital LLC grew its holdings in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after buying an additional 8 shares during the last quarter. Finally, Castleview Partners LLC acquired a new position in shares of First Citizens BancShares during the second quarter valued at about $31,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. UBS Group upped their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Barclays initiated coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 price target on the stock. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus target price of $1,768.63.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,532.51 on Wednesday. The firm has a 50 day simple moving average of $1,560.11 and a 200 day simple moving average of $1,465.25. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 1.95 and a beta of 0.89. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,651.73. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. Research analysts predict that First Citizens BancShares will post 178.72 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 0.84%.

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.