Short interest for First Citizens BancShares gives investors a sense of the degree to which investors are betting on the decline of First Citizens BancShares's stock. Short interest data is updated every two weeks.

First Citizens BancShares Stock (NASDAQ:FCNCA), Short Interest Report

First Citizens BancShares

First Citizens BancShares Inc is the bank holding company of First Citizens Bank & Trust Company. FCB was founded as the Bank of Smithfield in North Carolina and has expanded through both de novo branching and acquisitions. FCB currently operates in nearly half of the continental United States, but principally takes deposits in the Carolinas. The bank's operations have historically been influenced by the Holding family, which has traditionally held executive and director positions, as well as controlling a large percentage of its outstanding stock. FCB provides a wide range of retail and commercial banking services, including traditional lending and deposit-taking, as well as trust and wealth management. FCB's main source of revenue is net interest income.

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First Citizens BancShares Inc’s (NASDAQ: FCNCA) stock has a history of outperforming the market.

First Citizens BancShares Is Ready To Beat Current Street Expectations, Says Bullish Analyst

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First Citizens BancShares, Inc. - Class A Common Stock

First Citizens BancShares Inc

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 5 years by 18.64% on an annualized basis producing an average annual return of 30.28%. Currently, First Citizens BancShares has a market capitalization of $24.92 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 5 years ago, it would be worth $378.43 today based on a price of $1715.01 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714415412_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning First Citizens BancShares Stock In The Last 5 Years

With the earnings season in full swing, these large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Vertiv Holdings Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) increased&nbsp;23.3% after it reported better-than-expected first-quarter FY24 results and&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38405154/why-data-infrastructure-company-vertivs-shares-are-rocketing-today" target="_blank" rel="noreferrer noopener">raised its 2024 guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38431369/vertiv-analysts-raise-their-forecasts-following-strong-earnings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 19.70% despite reporting weak first-quarter FY24 earnings, with gains in the stock somewhat attributable to CEO Elon Musk&#8216;s <a href="https://www.benzinga.com/news/earnings/24/04/38405212/tesla-stock-is-ripping-higher-wednesday-whats-going-on" target="_blank" rel="noreferrer noopener">conference call</a>. The company disclosed its biggest workforce reduction ever to combat slowing <a href="https://www.benzinga.com/news/24/04/38452751/teslas-biggest-layoffs-mapped-where-has-ev-giant-cut-most-jobs" target="_blank" rel="noreferrer noopener">demand and falling margins</a>. Several analysts revised their <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings" target="_blank" rel="noreferrer noopener">forecasts for the stock</a>.</li>
<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) shares were up 17.5% following <a href="https://www.benzinga.com//node/38424671" target="_blank" rel="noreferrer noopener">better-than-expected Q1 earnings</a> and strong Q2 guidance and strong earnings from Microsoft, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more?_gl=1&#x2A;1wvnw9t&#x2A;_ga&#x2A;MTExNTkxODA0Ni4xNzAzNTkwOTkx&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDExNTk3OC44LjEuMTcxNDE1MTk2My4wLjAuMA.." target="_blank" rel="noreferrer noopener">which could be lifting AI optimism</a>.</li>
<li>BeiGene, Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) stock gained 17.24% after the European Commission approved Tislelizumab for non-small cell lung cancer across three indications,&nbsp;<a href="https://www.benzinga.com//node/38373608" target="_blank" rel="noreferrer noopener">including first- and second-line use</a>.</li>
<li>Tyler Technologies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) shares surged 13.6% after it reported better-than-expected&nbsp;Q1&nbsp;EPS and sales and provided upbeat&nbsp;guidance&nbsp;for FY24. Analysts boosted&nbsp;<a href="https://www.benzinga.com//node/38458683" target="_blank" rel="noreferrer noopener">their forecasts for the company</a>.</li>
<li>Westinghouse Air Brake Technologies Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) was up 13.49% after it reported better-than-expected&nbsp;Q1&nbsp;financial results&nbsp;<a href="https://www.benzinga.com//node/38403160" target="_blank" rel="noreferrer noopener">and raised its 2024&nbsp;guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/quote/wab/analyst-ratings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Newmont Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rose 13.25% after&nbsp;the company reported&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38438315/why-gold-miner-newmont-shares-are-surging-today" target="_blank" rel="noreferrer noopener">first-quarter FY24 results</a>. Revenue of $4.023 billion beat the consensus of $3.67 billion, and adjusted&nbsp;EPS of $0.55&nbsp;<a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se" target="_blank" rel="noreferrer noopener">beat the consensus of $0.36</a>.&nbsp;</li>
<li>Carrier Global Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares grew by 11.85%, rebounding from earlier&nbsp;<a href="https://www.benzinga.com//node/38438880" target="_blank" rel="noreferrer noopener">weakness following&nbsp;Q1&nbsp;earnings</a>.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) stock jumped 11.24% following better-than-expected <a href="https://www.benzinga.com//node/38425172" target="_blank" rel="noreferrer noopener">Q1 adjusted EPS results</a>.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) stock surged 10.2% in reaction to <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener">Meta&#8217;s</a><a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener"> increased capex guidance</a>, in possible anticipation of <a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener">Intel&#8217;s</a><a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener"> earnings report</a> and following <a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">strong earnings from </a><a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">Texas Instruments</a>.</li>
<li>Microchip Technology Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) was up 10.4%.</li>
<li>Deutsche Bank AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) stock increased 10.3%.</li>
<li>Grupo Aeroportuario Del Sureste, S.A. De C.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASR#NYSE">ASR</a>) shares were up 10.3%.</li>
<li>Antero Resources Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) stock&nbsp;saw an increase of&nbsp;9.9%.</li>
<li>Monolithic Power Systems, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) gained 9.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38349264/tracking-last-weeks-top-performers-are-these-7-large-cap-stocks-in-your-portfolio">Tracking Last Week&#8217;s Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio? (April 13-20)</a>
Photo: Shutterstock

Tracking Last Week's Top Performers: Are These 15 Large-Cap Stocks In Your Portfolio? (April 21-27, 2024)

Piper Sandler analyst Stephen Scouten downgrades First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) from Overweight to Neutral and raises the price target from $1850 to $1950.

Downgrades

Price Target

Piper Sandler Downgrades First Citizens BancShares to Neutral, Raises Price Target to $1950

Barclays maintains First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) with a Equal-Weight and raises the price target from $1850 to $1950.

Barclays Maintains Equal-Weight on First Citizens BancShares, Raises Price Target to $1950

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty reiterates First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) with a Outperform and raises the price target from $1900 to $2100.

Reiteration

Keefe, Bruyette & Woods Reiterates Outperform on First Citizens BancShares, Raises Price Target to $2100

WIIM

First Citizens BancShares are trading higher after the company reported better-than-expected Q1 adjusted EPS results.

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) reported quarterly earnings of $52.92 per share which beat the analyst consensus estimate of $43.32 by 22.16 percent. This is a 163.41 percent increase over earnings of $20.09 per share from the same period last year. The company reported quarterly sales of $1.82 billion which missed the analyst consensus estimate of $2.36 billion by 22.88 percent. This is a 114.12 percent increase over sales of $850.00 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

First Citizens BancShares Q1 Adj $52.92 Beats $43.32 Estimate, Sales $1.82B Miss $2.36B Estimate

First Citizens BancShares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) short percent of float has risen 9.82% since its last report. The company recently reported that it has 285 thousand shares sold short, which is 2.46% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.12 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>First Citizens BancShares Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713884419_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for First Citizens BancShares has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing First Citizens BancShares's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, First Citizens BancShares's peer group average for short interest as a percentage of float is 1.67%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About First Citizens BancShares?

First Citizens Bank Announced That Its Healthcare Finance Business Provided $58.4M In Financing To Anchor Health Properties For The Construction Of A 92-bed Inpatient Rehabilitation Facility In Miami, Florida

Ratings for First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $1788.5, a high estimate of $1950.00, and a low estimate of $1650.00. This current average reflects an increase of 10.27% from the previous average price target of $1622.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1713207683_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive First Citizens BancShares. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Manuel Navas</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$1650.00</td>
<td>$1600.00</td>
</tr>
<tr>
<td>Ryan Nash</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$1950.00</td>
<td>-</td>
</tr>
<tr>
<td>Brody Preston</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$1754.00</td>
<td>$1644.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$1800.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to First Citizens BancShares. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of First Citizens BancShares compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of First Citizens BancShares's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into First Citizens BancShares's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/FCNCA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on First Citizens BancShares analyst ratings.</a>
<h2>Unveiling the Story Behind First Citizens BancShares</h2>
First Citizens BancShares Inc is the bank holding company of First Citizens Bank &amp; Trust Company. FCB was founded as the Bank of Smithfield in North Carolina and has expanded through both de novo branching and acquisitions. FCB currently operates in nearly half of the continental United States, but principally takes deposits in the Carolinas. The bank's operations have historically been influenced by the Holding family, which has traditionally held executive and director positions, as well as controlling a large percentage of its outstanding stock. FCB provides a wide range of retail and commercial banking services, including traditional lending and deposit-taking, as well as trust and wealth management. FCB's main source of revenue is net interest income.
<h3>Financial Milestones: First Citizens BancShares's Journey</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: First Citizens BancShares's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 105.15%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Financials sector.
Net Margin: First Citizens BancShares's net margin is impressive, surpassing industry averages. With a net margin of 20.19%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): First Citizens BancShares's ROE stands out, surpassing industry averages. With an impressive ROE of 2.5%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): First Citizens BancShares's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.23% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: First Citizens BancShares's debt-to-equity ratio stands notably higher than the industry average, reaching 1.84. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 4 Ratings For First Citizens BancShares

DA Davidson analyst Manuel Navas assumes First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) with a Neutral rating and raises Price Target to $1650.

DA Davidson Assumes First Citizens BancShares at Neutral, Raises Price Target to $1650

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 10 years by 10.64% on an annualized basis producing an average annual return of 21.44%. Currently, First Citizens BancShares has a market capitalization of $23.18 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 10 years ago, it would be worth $696.57 today based on a price of $1595.21 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712768429_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $700 Today

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 5 years by 18.07% on an annualized basis producing an average annual return of 30.45%. Currently, First Citizens BancShares has a market capitalization of $23.22 billion. 
Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 5 years ago, it would be worth $3,789.12 today based on a price of $1598.00 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712079021_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $3,800 Today

First Citizens BancShares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) short percent of float has risen 30.23% since its last report. The company recently reported that it has 259 thousand shares sold short, which is 2.24% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.91 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>First Citizens BancShares Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711721720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for First Citizens BancShares has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing First Citizens BancShares's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, First Citizens BancShares's peer group average for short interest as a percentage of float is 1.60%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

First Citizens BancShares Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcnca#NASDAQ">FCNCA</a>) stock has a <a href="https://www.benzinga.com/insights/news/24/03/37758023/heres-how-much-you-would-have-made-owning-first-citizens-bancshares-stock-in-the-last-20-years">history of outperforming the market</a>.
The bank appears well positioned to generate low-to-mid teens returns, driven by above-peer loan growth and cost controls, according to Goldman Sachs.
The First Citizens BancShares Analyst: Ryan Nash initiated coverage of First Citizens BancShares with a Buy and a price target of $1,950.
The First Citizens BancShares Thesis: The bank&rsquo;s peer-leading loan growth will help drive better net interest income growth, especially in the higher-for-longer rate scenario, Nash said in the initiation note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
&ldquo;Additionally, given its peer leading capital levels, it should be well positioned to return &gt;20% of its market cap to shareholders (via a buyback) in the coming quarters,&rdquo; the analyst wrote.
First Citizens BancShares has the capacity to return between $4.2 billion and $6.5 billion in share buybacks by yearend 2025, higher than the current consensus expectations of $4.1 billion, provided &ldquo;it holds Tier 1 leverage of at least 8-9%,&rdquo; Nash&nbsp;added.
The bank is poised for loan growth in mid-single digits and there is some upside to net interest income expectations, Nash stated. &ldquo;While credit losses are elevated today given several high-risk portfolios, reserves appear adequate and we see the potential for losses to improve over time,&rdquo; he&nbsp;wrote.
FCNCA Price Action: Shares of First Citizens BancShares had risen by 1.02% to $1,597&nbsp;at the time of publication on Thursday.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37876205/bulls-stampede-on-feds-dovish-signal-nasdaq-100-hits-new-record-high-doj-sues-apple">Bulls Stampede On Fed&#39;s Dovish Signal, Nasdaq 100 Hits New Record High, DOJ Sues Apple: What&#39;s Driving Markets Thursday?</a>
Photo: Shutterstock

Shares of major U.S. financial stocks, as represented by the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), surged to record highs, in the wake of the March Federal Open Market <a href="https://www.benzinga.com/topic/fomc">Committee (FOMC) meeting.</a> 
This rally was fueled by anticipations of stronger economic growth and a reduction in borrowing costs, potentially boosting loan <a href="https://www.benzinga.com/topic/banks">demands for U.S. banks.</a>
Equity analyst Ebrahim H. Poonawala from Bank of America highlighted the market&#8217;s optimistic outlook in a note on Thursday, noting the Fed&#8217;s projection of three 25 basis point rate cuts in 2024 and its &#8220;fairly soon&#8221; reference to the commencement of the quantitative tightening (QT) taper represent bullish signals for bank stocks.
Following the FOMC&#8217;s latest meeting and comments by Fed Chair Jerome Powell, regional bank stocks, as indicated by the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a sharp increase of over 4%, and surged by a further 3% on Thursday&#8217;s morning trading. 
Chart: US Financial Stocks Soar To Record Highs Post-Fed Meeting 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="476" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png" alt="" class="wp-image-260811" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-768x357.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1536x714.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">A Shift In Market Sentiment: Toward A 1995 Scenario?</h3>
Poonawala&#8217;s analysis suggests that the increased confidence in a more lenient monetary policy has led markets to reassess the likelihood of tail risk events negatively impacting the economy. 
Instead, there&#8217;s a growing belief of &#8220;a 1995&nbsp;soft landing scenario for bank stocks,&#8221; where the sector could experience significant growth. 
Reflecting on history, the analysis recalled the year 1995, when bank stocks soared by 54% following a pause in Federal Reserve rate hikes, significantly outperforming the S&amp;P 500&#8217;s 34% gain.
<h3 class="wp-block-heading">Bank of America&#8217;s Bullish Outlook On Major Banks</h3>
The report further emphasized Bank of America&#8217;s continued positive stance on leading financial institutions such as Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), propelled by the expectation of an upturn in capital market activities. 
This optimistic view was reinforced by the stellar debut of Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) and the high-end pricing of Reddit&#8216;s IPO, suggesting a favorable risk/reward scenario for Goldman Sachs and Morgan Stanley.
<h3 class="wp-block-heading">Potential For &#8216;Super-Regional Banks&#8217; To Narrow The Gap Versus Major Players</h3>
Despite potential challenges such as increasing regulatory pressures and commercial real estate concerns, there appears to be room for regional banks to reduce the valuation gap with their Global Systemically Important Banks (GSIB) counterparts. 
Bank of America highlighted that super-regional banks – an elite group represented by U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), F.N.B. Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>), First Bancorp. New (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) – are trading at an 8% discount relative to GSIBs, a notable shift from their historical 14% premium.
<h3 class="wp-block-heading">Goldman Sachs Is Bullish On First Citizens Bancshares</h3>
In a related analysis, Goldman Sachs equity analyst Ryan M. Nash initiated coverage on First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) with a Buy rating and <a href="https://www.benzinga.com/news/24/03/37864877/goldman-sachs-initiates-coverage-on-first-citizens-bancshares-with-buy-rating-announces-price-target">a $1,950 price target. </a>
Described as a leading regional bank, First Citizens Bancshares is well-positioned to return more than 20% of its market capitalization to shareholders through buybacks in the near term. Despite concerns over credit impairments linked to commercial real estate. 
Nash believes that the bank&#8217;s reserves are sufficient and anticipates an improvement in potential losses over time.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37859344/s-p-500-closes-at-record-high-after-fed-charts-interest-rate-path-markets-continue-">S&amp;P 500 Closes At Record High After Fed Charts Interest Rate Path: &#8216;Markets Continue To Have A Green Light To Run Higher,&#8217; CIO Says</a>
Image created using artificial intelligence with Midjourney.

Bank Stocks Hit All-Time Highs: Analyst Points To Further Rally On 'A 1995 Soft Landing Scenario'

Goldman Sachs analyst Ryan Nash initiates coverage on First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) with a Buy rating and announces Price Target of $1950.

Goldman Sachs Initiates Coverage On First Citizens BancShares with Buy Rating, Announces Price Target of $1950

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 20 years by 5.55% on an annualized basis producing an average annual return of 13.55%. Currently, First Citizens BancShares has a market capitalization of $22.24 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 20 years ago, it would be worth $1,273.96 today based on a price of $1531.00 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710531014_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning First Citizens BancShares Stock In The Last 20 Years

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 15 years by 6.42% on an annualized basis producing an average annual return of 20.53%. Currently, First Citizens BancShares has a market capitalization of $22.28 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 15 years ago, it would be worth $1,562.64 today based on a price of $1534.60 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708965010_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning First Citizens BancShares Stock In The Last 15 Years

First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) has outperformed the market over the past 15 years by 4.73% on an annualized basis producing an average annual return of 17.45%. Currently, First Citizens BancShares has a market capitalization of $21.52 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 15 years ago, it would be worth $1,069.30 today based on a price of $1482.06 for FCNCA at the time of writing.
<h3>First Citizens BancShares's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707426014_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In First Citizens BancShares 15 Years Ago Would Be Worth This Much Today

First Citizens BancShares Q1 2024 Earnings Preview

First Citizens BancShares Non-GAAP EPS of $52.92 beats by $8.77, revenue of $2.45B beats by $100M

First Citizens BancShares (FCNCA) has issued an update. The information contained in Exhibits 99.1, 99.2, and 99.3 is not considered officially "fi...

First Citizens BancShares Clarifies Regulatory Disclosure Status

First Citizens BancShares, Inc. 2024 Q1 - Results - Earnings Call Presentation

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
First Citizens BancShares (NASDAQ:<a href="https://investorplace.com/stock-quotes/fcnca-stock-quote/">FCNCA</a>) just reported results for the first quarter of 2024.<ul><li>First Citizens BancShares reported earnings per share of $52.92. This was above the analyst estimate for EPS of $43.32.</li><li>The company reported revenue of $2.30 billion.</li><li>This was 2.75% worse than the analyst estimate for revenue of $2.36 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/fcnca-stock-earnings-first-citizens-bancshares-for-q1-of-2024/">FCNCA Stock Earnings: First Citizens BancShares Beats EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

FCNCA Stock Earnings: First Citizens BancShares Beats EPS, Misses Revenue for Q1 2024

First Citizens stock drives up after Q1 earnings beat amid solid loan, deposit growth

David Chiaverini, an analyst from Wedbush, maintained the Buy rating on First Citizens BancShares (FCNCA – Research Report). The associated price t...

Strong Quarterly Performance and Positive Financial Outlook Affirm Buy Rating for First Citizens BancShares

First Citizens BancShares, Inc. (FCNCA) Q1 2024 Earnings Call Transcript

In a report released today, Jason Goldberg from Barclays maintained a Hold rating on First Citizens BancShares (FCNCA – Research Report), with a pr...

Barclays Sticks to Its Hold Rating for First Citizens BancShares (FCNCA)

Citizens Financial upgraded, First Citizens downgraded at Piper Sandler

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First Citizens BancShares Stock (NASDAQ:FCNCA), Short Interest Report

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