Short Interest in First Citizens BancShares Inc. (NASDAQ:FCNCA) Rises By 9.7%

First Citizens BancShares Inc. (NASDAQ:FCNCA) was the target of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 187,100 shares, an increase of 9.7% from the November 14th total of 170,600 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 34,500 shares, the days-to-cover ratio is presently 5.4 days.

Separately, BidaskClub lowered shares of First Citizens BancShares from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd.

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of First Citizens BancShares by 9.3% in the third quarter. State Street Corp now owns 188,562 shares of the bank’s stock valued at $88,984,000 after purchasing an additional 16,081 shares during the period. Great West Life Assurance Co. Can increased its position in First Citizens BancShares by 8.4% during the third quarter. Great West Life Assurance Co. Can now owns 174,747 shares of the bank’s stock worth $82,407,000 after acquiring an additional 13,551 shares during the period. Wells Fargo & Company MN increased its position in First Citizens BancShares by 7.0% during the second quarter. Wells Fargo & Company MN now owns 158,786 shares of the bank’s stock worth $71,496,000 after acquiring an additional 10,371 shares during the period. Systematic Financial Management LP increased its position in First Citizens BancShares by 0.5% during the third quarter. Systematic Financial Management LP now owns 113,574 shares of the bank’s stock worth $53,556,000 after acquiring an additional 586 shares during the period. Finally, AQR Capital Management LLC increased its position in First Citizens BancShares by 14.7% during the second quarter. AQR Capital Management LLC now owns 52,664 shares of the bank’s stock worth $23,713,000 after acquiring an additional 6,759 shares during the period. 44.92% of the stock is currently owned by institutional investors.

FCNCA traded down $2.80 during midday trading on Friday, hitting $529.90. 64,155 shares of the company’s stock traded hands, compared to its average volume of 28,354. The company has a market cap of $5.72 billion, a PE ratio of 13.63 and a beta of 1.15. The stock’s fifty day simple moving average is $512.47 and its 200-day simple moving average is $468.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.84 and a quick ratio of 0.84. First Citizens BancShares has a one year low of $355.18 and a one year high of $534.41.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $11.27 earnings per share for the quarter. The firm had revenue of $437.36 million for the quarter. First Citizens BancShares had a net margin of 25.04% and a return on equity of 12.57%.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.

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