First Citizens BancShares Stock (NASDAQ: FCNCA)

Dernières nouvelles pour First Citizens BancShares (NASDAQ:FCNCA) Stock

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.

First Citizens BancShares, Inc. - Class A Common Stock

First Citizens BancShares Inc

First Citizens BancShares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) short percent of float has fallen 3.5% since its last report. The company recently reported that it has 222 thousand shares sold short, which is 1.93% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.55 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/2024/1728504924_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 declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less 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 1.11%, 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.

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Peering Into First Citizens BancShares's Recent Short Interest

The third-quarter earnings season for U.S. banks will officially kick off this Friday, with major financial institutions like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) set <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">to report their results. </a>
The following Tuesday will see additional earnings releases from mega-cap players such as Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), as well as some regional banks.
<h3 class="wp-block-heading">Banking Sector Performance So Far In 2024</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png" alt="" class="wp-image-587909" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chart:<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1"> Benzinga Pro</a></figcaption></figure>
Thus far, in 2024, the banking sector has shown strong performance. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major financial stocks, has risen 21% year-to-date, matching the performance of the broader market as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
However, regional banks have lagged behind their larger counterparts. The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) is up just 6% year-to-date, though it has outperformed over the past three months. This recent rebound is largely due to falling inflation and increasing expectations of Federal Reserve interest rate cuts.
With earnings season approaching, the question on many investors&#8217; minds is whether large banks will maintain their positive performance gap over regional players or if recent market developments will impact their results and outlooks. 
Here&#8217;s what Wall Street analysts are saying ahead of the bank earnings season.
<h3 class="wp-block-heading">Analyst Expectations And Top Picks</h3>
<h4 class="wp-block-heading">RBC Capital Markets – Gerard Cassidy, co-head of global financials research</h4>
&#8220;We believe the set-up looks very good for banks over the next 12-18 months. We expect the Federal Reserve to cut short-term interest rates by 200-250 basis points over this period, and the finalization of the Basel III &#8216;endgame&#8217; proposal will allow banks to return excess capital through buybacks and dividends. We continue to recommend an overweight position in bank stocks.&#8221;
<ul>
<li>Top Picks (RBC holds earnings per share estimates for both above Street consensus for the third quarter)
<ul>
<li>Truist Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)</li>
<li>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">JPMorgan Chase &amp; Co. – Anthony Elian, CFA</h4>
&#8220;As the Federal Reserve reduces rates, several industry headwinds could turn into tailwinds.&#8221; This includes:
<ol>
<li>Lower deposit costs, improving net interest margins (NIMs)</li>
<li>An uptick in commercial loan demand</li>
<li>Easing credit quality concerns, particularly for banks with commercial real estate (CRE) exposure</li>
<li>A resumption of buyback programs as reserves are released</li>
<li>Increased exit market and venture capital activity.</li>
</ol>
<ul>
<li>Top Picks:
<ul>
<li>First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>)</li>
<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</li>
<li>Pinnacle Financial Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Wedbush Securities – David J. Chiaverini, CFA</h4>
&#8220;We expect mixed trends for banks in Q3, with modest loan and deposit growth, stabilizing deposit mix shifts, and NIMs benefiting from fixed asset repricing. Some banks will be more positively positioned than others in this environment.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</li>
<li>Columbia Banking Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) Wedbush believes Columbia Banking Systems will benefit from a lower rate environment as it is liability-sensitive, unlike most banks that are asset-sensitive.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Bank of America – Ebrahim H. Poonawala</h4>
&#8220;We favor regional banks over large money centers heading into Q3, given better net interest income (NII) defensibility and greater capital relief as mark-to-market losses on bond books decrease. Our top ideas going into Q3 earnings include a mix of regionals and larger financial institutions.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</li>
<li>Western Alliance Bancorporation </li>
<li>PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</li>
<li>Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>)</li>
<li>M&amp;T Bank Corp.</li>
<li>Truist Financial Corporation</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Goldman Sachs Inc.</li>
<li>Bank of New York Mellon Corp.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Goldman Sachs – Richard Ramsden</h4>
Goldman Sachs is particularly optimistic about Citigroup heading into Q3 earnings, citing the bank's progress toward its 2024 targets driven by strong fee growth, solid capital markets activity, and robust card volumes. 
Ramsden is above consensus on Citigroup's Q3 pre-provision net revenue (PPNR), largely due to expectations of higher fees and capital markets activity.
<ul>
<li>Top Pick:
<ul>
<li>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</li>
</ul>
</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">S&amp;P 500 Earnings Season Kicks Off: Why Analysts Call This Quarter &#8216;A Stock Picker&#8217;s Paradise&#8217;</a></li>
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Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist

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Shares of banking companies are trading higher amid overall market strength following strong September Unemployment Rate and Nonfarm Payrolls data. Also, the dockworkers struck a deal to suspend their strike after they reached a tentative agreement, easing concerns about its potential ramifications.

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>Summit Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) shares fell 14.37% last week after Citigroup downgraded the stock from <a href="https://www.benzinga.com/quote/smmt/analyst-ratings" target="_blank" rel="noreferrer noopener">Buy to Neutral</a> but raised its price target from $19 to $23.</li>
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<li>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) stock lost 8.94% last week after Leerink Partners <a href="https://www.benzinga.com/quote/regn/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded it</a> from Outperform to Market Perform and lowered its price target from $1,175 to $1,077.</li>
<li>Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) shares dived 8.74% after the company guided <a href="https://www.benzinga.com/pressreleases/24/09/b41024786/global-payments-shares-updated-strategy-and-medium-term-outlook-at-investor-conference" target="_blank" rel="noreferrer noopener">FY25 EPS growth below estimates</a>, and multiple firms downgraded the stock and<a href="https://www.benzinga.com/quote/gpn/analyst-ratings" target="_blank" rel="noreferrer noopener"> cut their respective price targets</a>.</li>
<li>Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) stock lost 8.39% last week. There was no company-specific news to justify the price loss.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares dipped 8.21% following a report indicating the company is being probed by the Department of Justice following an August short <a href="https://www.benzinga.com//node/41052423" target="_blank" rel="noreferrer noopener">report from</a><a href="https://www.benzinga.com//node/41052423" target="_blank" rel="noreferrer noopener"> Hindenburg Research</a>.</li>
<li>TechnipFMC plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTI#NYSE">FTI</a>) stock fell 6.10% amid reports suggesting Saudi Arabia may raise crude oil output.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) stock lost 6.09% last week after Wedbush analyst <a href="https://www.benzinga.com/quote/fcnca/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded the stock</a> from Outperform to Neutral and lowered the price target from $2,450 to $2,150.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) stock fell 5.93% from pressure following the DOJ&#8217;s Carahsoft investigation.</li>
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Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/41082440/chinese-stocks-dominate-jd-com-and-temu-parent-pdd-are-among-top-10-large-cap-gainers-last-week-se" target="_blank" rel="noreferrer noopener">Chinese Stocks Dominate &#8211; JD.com And Temu Parent PDD Are Among Top 10 Large Cap Gainers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?</a></li>
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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 6.03% on an annualized basis producing an average annual return of 18.17%. Currently, First Citizens BancShares has a market capitalization of $26.86 billion. 
Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 15 years ago, it would be worth $12,183.14 today based on a price of $1856.96 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/2024/1727373614_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.

$1000 Invested In First Citizens BancShares 15 Years Ago Would Be Worth This Much Today

With earnings season winding down, Chris Ballard, managing director at Check Capital Management, shared his exclusive insights on the companies that have caught his attention for their stellar performance <a href="https://www.benzinga.com/earnings">and growth potential</a>.
Here are his top stock picks based on their latest earnings results:
<h1 class="wp-block-heading">Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</h1>
Alphabet continues to stand out in Ballard&#8217;s view, delivering impressive growth across key segments. 
&#8220;Search revenues were up 14%, with expanding margins, and YouTube Ads grew 13%, making it the most streamed TV service in the U.S.,&#8221; he noted. 
Google Cloud&#8217;s quarterly revenue milestone of $10 billion also adds to the tech giant's appeal. 
Despite the U.S. government's public scrutiny, Ballard emphasized Alphabet&#8217;s robust cash generation and clean balance sheet, making it a compelling choice for long-term investors.
<h1 class="wp-block-heading">First Citizens BancShares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</h1>
Ballard also highlighted First Citizens BancShares as a notable performer. 
&#8220;It's one of the best banks in the nation, with returns on assets at 1.4% and return on equity at 14.1%,&#8221; he explained. 
What sets First Citizens apart is its ability to achieve these results with less risk, avoiding complex global trading and derivative transactions, noted Ballard. Their simple strategy of taking low-cost deposits and lending to safe borrowers has been the key to their success.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p">Bank Stocks Hit Inflection Point After Fed&#8217;s 50 Basis Point Cut, Analyst Reveals Top Picks</a>
<h1 class="wp-block-heading">AerCap Holdings NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AER#NYSE">AER</a>)</h1>
In the aviation leasing space, Ballard praised AerCap for its strong results and raised guidance. 
&#8220;Gus Kelly's strategy of selling assets at a premium and buying back stock at a discount continues to drive value,&#8221; Ballard noted. AerCap's earnings have surged, boosting their per-share book value by 25% over the past year. Despite a 50% rise in the stock price, Ballard still sees it as attractively valued.
When asked about sector performance and reacting to negative earnings reports like FedEx's, Ballard emphasized a long-term approach. 
"We don't make knee-jerk reactions. If the issues are macroeconomic, we hold our position. FedEx has ambitious cost-cutting initiatives that will likely drive future growth."
For investors looking to capitalize on post-earnings moves, Ballard suggests focusing on companies with strong fundamentals and not being swayed by market noise.
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EXCLUSIVE: Alphabet, AerCap, First Citizens: Asset Manager's Trio Of Post-Earnings Bets

Analysts' ratings for First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares 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;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</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;">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>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</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;">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>
</tbody>
</table>
Analysts have set 12-month price targets for First Citizens BancShares, revealing an average target of $2212.5, a high estimate of $2300.00, and a low estimate of $2150.00. This current average has increased by 4.73% from the previous average price target of $2112.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1727179244_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of First Citizens BancShares's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below 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>David Chiaverini</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$2150.00</td>
<td>$2450.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$2250.00</td>
<td>$1950.00</td>
</tr>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$2150.00</td>
<td>$1950.00</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$2300.00</td>
<td>$2100.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to First Citizens BancShares. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of First Citizens BancShares compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of First Citizens BancShares's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of First Citizens BancShares's market standing. Stay informed and make data-driven decisions with 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>Get to Know First Citizens BancShares Better</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>Unraveling the Financial Story of First Citizens BancShares</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Negative Revenue Trend: Examining First Citizens BancShares's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -4.27% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: First Citizens BancShares's net margin excels beyond industry benchmarks, reaching 28.82%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): First Citizens BancShares's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.25%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.32%, the company showcases effective utilization of assets.
Debt Management: First Citizens BancShares's debt-to-equity ratio stands notably higher than the industry average, reaching 1.73. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Cracking The Code: Understanding Analyst Reviews For First Citizens BancShares

Wedbush analyst David Chiaverini downgrades First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) from Outperform to Neutral and lowers the price target from $2450 to $2150.

Downgrades

Price Target

Wedbush Downgrades First Citizens BancShares to Neutral, Lowers Price Target to $2150

The Federal Reserve's decision to reduce interest rates by 50 basis points on Wednesday has set the stage for a notable shift, particularly in the banking sector among <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">mid- and small-cap banks</a>.
With rates expected to drop further over the next two years, JPMorgan analyst Steven Alexopoulos believes this marks a crucial inflection point. This and further cuts should help boost banks' net interest margins (NIMs) while reigniting commercial loan demand. The steepening yield curve and easing credit concerns will help banks recalibrate deposit costs, improving performance across various segments.
Let's break down the investment opportunities among large-cap, mid-cap, and small-cap banks, as outlined by Alexopoulos.
<h2 class="wp-block-heading">Large-Cap Banks: Poised For Growth</h2>
<h4 class="wp-block-heading">First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</h4>
First Citizens stands out with its SVB segment likely to benefit from the Fed's cuts. With lower rates, the company expects a resurgence in venture capital (VC) investment and IPO activity. This should bolster its sizable SVB loans and deposits. Trading at a discount to peers, this stock offers a compelling value. Alexopoulos also sees potential for significant multiple expansion as the market re-rates it.
<h4 class="wp-block-heading">Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</h4>
Huntington positions itself to take advantage of improving commercial and industrial (C&amp;I) loan demand by aggressively hiring bankers in growth markets like the Carolinas and Texas. As the Fed eases, the bank anticipates accelerated earnings, strong loan growth, and a solidified position in the sector.
<h4 class="wp-block-heading">M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</h4>
As the Fed eases, M&amp;T's criticized loans should see an improvement in credit quality, particularly in the commercial real estate (CRE) sector. This will likely reduce the bank's need for high reserve levels and allow for increased buybacks. The analyst says that trading below its historical valuation, M&amp;T offers an opportunity for re-rating as the economic outlook brightens.
Don't miss out on this unparalleled opportunity:
<ul>
<li><a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Register now to secure your spot at Benzinga's Largest SmallCap Conference ever in Chicago!</a></li>
</ul>
<h2 class="wp-block-heading">Mid-Cap Banks: Reaping The Benefits Of Lower Rates</h2>
<h4 class="wp-block-heading">Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</h4>
Western Alliance will benefit from the lower rate environment, seizing opportunities to reduce deposit costs and ease credit concerns. According to Alexopoulos, its exposure to the startup economy and capital call lending positions it well to take advantage of a potential resurgence in venture capital and IPO markets, making it a standout mid-cap pick.
<h4 class="wp-block-heading">Pinnacle Financial Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</h4>
Pinnacle plans to lower its high deposit rates, boosting net interest income (NII). The analyst says Pinnacle operates in high-growth markets in the Southeast and sports above-peer loan growth. This, combined with easing concerns around credit quality, makes it an attractive investment as the Fed continues its rate cuts.
<h4 class="wp-block-heading">Cullen/Frost Bankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>)</h4>
Despite its asset-sensitive balance sheet, Cullen/Frost will benefit from the Fed's cuts by focusing on organic expansion in Texas's fastest-growing cities. The potential for improved loan demand, especially in commercial real estate, should drive outsized growth. Alexopoulos sees this as presenting a revaluation opportunity for the stock.
<h2 class="wp-block-heading">Small-Cap Banks: Ready For Resurgence</h2>
<h4 class="wp-block-heading">Live Oak Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NASDAQ">LOB</a>)</h4>
Live Oak, with most of its deposits in market-rate accounts, expects a significant reset in funding costs as rates decline. This niche growth bank plans to lead loan growth by capitalizing on improved borrower demand as borrowing cost uncertainty diminishes.
<h4 class="wp-block-heading">Metropolitan Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</h4>
Metropolitan stands to benefit from easing concerns around its CRE loans, with the Fed's cuts reducing fears about credit quality. The bank's unique focus on niche sectors and proactive credit management positions it well for an economic rebound.
<h4 class="wp-block-heading">Amalgamated Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>)</h4>
Amalgamated, a smaller player exposed to high credit risk profiles, will improve as rates decline. The bank's focus on social impact banking combined with a favorable rate environment should alleviate concerns around credit stress. Alexopoulos sees this as providing room for upside in its share price.
As the Fed signals further easing, banks across segments will capitalize on improving economic conditions, rising loan demand, and a recalibration of deposit costs. With the runway for a soft landing widened, now is a compelling time to consider these names for your portfolio.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40919822/small-cap-sectors-brace-for-fed-rate-cut-financials-real-estate-etfs-offer-compelling-plays-for-inve">Small-Cap Sectors Brace For Fed Rate Cut: Financials, Real Estate ETFs Offer Compelling Plays For Investors</a></li>
</ul>
Don't miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>,&nbsp;at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you're a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Secure your spot and get your tickets today!</a>
Image created using artificial intelligence via Midjourney.

Analyst Color

Federal Reserve

AMAL

HBAN

Bank Stocks Hit Inflection Point After Fed's 50 Basis Point Cut, Analyst Reveals Top Picks

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$145.00</td>
<td>$49.6K</td>
<td>3.3K</td>
<td>4.6K</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$200.00</td>
<td>$28.0K</td>
<td>5.5K</td>
<td>1.1K</td>
</tr>
<tr>
<td>NBTB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$45.00</td>
<td>$240.0K</td>
<td>137</td>
<td>1.0K</td>
</tr>
<tr>
<td>C</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/17/26</td>
<td>$45.00</td>
<td>$61.2K</td>
<td>82</td>
<td>721</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/13/24</td>
<td>$240.00</td>
<td>$27.7K</td>
<td>25</td>
<td>519</td>
</tr>
<tr>
<td>CG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$42.50</td>
<td>$70.7K</td>
<td>2.4K</td>
<td>363</td>
</tr>
<tr>
<td>GS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$460.00</td>
<td>$26.7K</td>
<td>469</td>
<td>165</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$190.00</td>
<td>$28.3K</td>
<td>1.8K</td>
<td>67</td>
</tr>
<tr>
<td>FI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$155.00</td>
<td>$30.7K</td>
<td>129</td>
<td>15</td>
</tr>
<tr>
<td>FCNCA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1420.00</td>
<td>$43.7K</td>
<td>0</td>
<td>1</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding COF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), we observe a call option sweep with neutral sentiment. It expires in 38 day(s) on October 18, 2024. Parties traded 234 contract(s) at a $145.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $49.6K, with a price of $212.0 per contract. There were 3395 open contracts at this strike prior to today, and today 4612 contract(s) were bought and sold. 
• Regarding JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we observe a put option sweep with bearish sentiment. It expires in 38 day(s) on October 18, 2024. Parties traded 46 contract(s) at a $200.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $28.0K, with a price of $610.0 per contract. There were 5534 open contracts at this strike prior to today, and today 1136 contract(s) were bought and sold. 
• For NBTB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTB#NASDAQ">NBTB</a>), we notice a call option sweep that happens to be bearish, expiring in 66 day(s) on November 15, 2024. This event was a transfer of 1000 contract(s) at a $45.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $240.0K, with a price of $240.0 per contract. There were 137 open contracts at this strike prior to today, and today 1010 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a put option sweep with bullish sentiment. It expires in 675 day(s) on July 17, 2026. Parties traded 180 contract(s) at a $45.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $61.2K, with a price of $340.0 per contract. There were 82 open contracts at this strike prior to today, and today 721 contract(s) were bought and sold. 
• Regarding AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on September 13, 2024. Parties traded 50 contract(s) at a $240.00 strike. The total cost received by the writing party (or parties) was $27.7K, with a price of $555.0 per contract. There were 25 open contracts at this strike prior to today, and today 519 contract(s) were bought and sold. 
• For CG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>), we notice a call option sweep that happens to be bullish, expiring in 192 day(s) on March 21, 2025. This event was a transfer of 363 contract(s) at a $42.50 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $70.7K, with a price of $195.0 per contract. There were 2425 open contracts at this strike prior to today, and today 363 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a put option trade that happens to be bullish, expiring in 66 day(s) on November 15, 2024. This event was a transfer of 14 contract(s) at a $460.00 strike. The total cost received by the writing party (or parties) was $26.7K, with a price of $1910.0 per contract. There were 469 open contracts at this strike prior to today, and today 165 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a put option trade that happens to be bullish, expiring in 10 day(s) on September 20, 2024. This event was a transfer of 8 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $28.3K, with a price of $3540.0 per contract. There were 1826 open contracts at this strike prior to today, and today 67 contract(s) were bought and sold. 
• For FI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), we notice a call option sweep that happens to be bullish, expiring in 66 day(s) on November 15, 2024. This event was a transfer of 15 contract(s) at a $155.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $30.7K, with a price of $2050.0 per contract. There were 129 open contracts at this strike prior to today, and today 15 contract(s) were bought and sold. 
• For FCNCA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>), we notice a call option trade that happens to be bullish, expiring in 129 day(s) on January 17, 2025. This event was a transfer of 1 contract(s) at a $1420.00 strike. The total cost received by the writing party (or parties) was $43.7K, with a price of $43750.0 per contract. There were 0 open contracts at this strike prior to today, and today 1 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

NBTB

10 Financials Stocks With Whale Alerts In Today's Session

CNFR

EWBC

FFWM

FNWD

HSBC

IROQ

Shares of banking and financial services stocks are trading lower in possible sympathy with Ally, which fell after the company's CFO noted credit challenges among borrowers. The sector earlier reacted to Fed Vice Chair for Supervision Barr previewing Basel and GSIB surcharge re-proposals.

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 13.57% on an annualized basis producing an average annual return of 24.11%. Currently, First Citizens BancShares has a market capitalization of $27.73 billion. 
Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 10 years ago, it would be worth $8,681.03 today based on a price of $1898.10 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/2024/1725892211_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 10 Years Ago, You Would Have $8,700 Today

First Citizens BancShares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) short percent of float has fallen 5.56% since its last report. The company recently reported that it has 216 thousand shares sold short, which is 1.87% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.05 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/2024/1725458418_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 declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less 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 0.94%, 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.

Looking Into First Citizens BancShares's Recent Short Interest

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 6.86% on an annualized basis producing an average annual return of 15.26%. Currently, First Citizens BancShares has a market capitalization of $28.92 billion. 
Buying $100 In FCNCA: If an investor had bought $100 of FCNCA stock 20 years ago, it would be worth $1,713.97 today based on a price of $1999.35 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/2024/1724189414_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 20 Years Ago Would Be Worth $1,700 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 15 years by 6.98% on an annualized basis producing an average annual return of 18.66%. Currently, First Citizens BancShares has a market capitalization of $28.50 billion. 
Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 15 years ago, it would be worth $12,656.45 today based on a price of $1961.75 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/2024/1723134627_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.

CADE

CVBF

FMAO

GGAL

IBTX

INDB

PPBI

TCBI

WSFS

Shares of banking companies are trading lower amid overall market weakness on US economic concerns.

BBAR

HMNF

MUFG

VBFC

Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

First Citizens BancShares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) short percent of float has risen 4.93% since its last report. The company recently reported that it has 247 thousand shares sold short, which is 2.13% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.44 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/2024/1722371411_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 1.04%, 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.

Live On CNBC, Brian G. Belski Announces Bought More First Citizens BancShares

These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
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<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares escalated 33.37% after the company announced <a href="https://www.benzinga.com//node/39880836" target="_blank" rel="noreferrer noopener">a private placement financing</a>.</li>
<li>Avantor Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) stock gained 21.62% in the last week after it was announced the stock will join the S&amp;P MidCap 400. Also, it reported better-than-expected Q2 earnings.</li>
<li>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>) stock jumped 17.73% after the company reported better-than-expected&nbsp;Q2&nbsp;earnings and <a href="https://www.benzinga.com//node/39942622" target="_blank" rel="noreferrer noopener">increased FY 2024&nbsp;guidance</a>.</li>
<li>Manhattan Associates Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) stock upped 17.02% after reporting better-than-expected Q2 financial results. Several analysts raised their <a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Molina Healthcare Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) shares increased 15.53% following <a href="https://www.benzinga.com//node/39942485" target="_blank" rel="noreferrer noopener">better-than-expected&nbsp;Q2&nbsp;earnings</a>.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) shares increased 15.15% after the company reported better-than-expected earnings.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) stock increased 13.02% after the company reported better-than-expected&nbsp;Q2&nbsp;financial results, and the company raised its FY24&nbsp;guidance&nbsp;above estimates and issued&nbsp;Q3&nbsp;guidance&nbsp;above estimates. Also, the company announced it a<a href="https://www.benzinga.com//node/39934114" target="_blank" rel="noreferrer noopener">uthorized a&nbsp;$1.5 billion&nbsp;share buyback</a>.</li>
<li>CBRE Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) shares gained 12.99% in the last week after the company raised its 2024 guidance. Several analysts raised their <a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on </a><a href="https://www.benzinga.com/quote/CBRE/analyst-ratings" target="_blank" rel="noreferrer noopener">t</a><a href="https://www.benzinga.com/quote/MANH/analyst-ratings" target="_blank" rel="noreferrer noopener">he stock</a>.</li>
<li>Thermo Fisher Scientific Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) stock rose 12.63% in the last week. The company raised <a href="https://www.benzinga.com//node/39930516" target="_blank" rel="noreferrer noopener">its annual outlook</a>.</li>
<li>Danaher Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) stock gained 11.30% are trading higher after the company reported better-than-expected Q2 earnings.</li>
<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) stock grew 10.72% on positive analyst <a href="https://www.benzinga.com//node/39941283" target="_blank" rel="noreferrer noopener">ratings and strong Q2 results</a>.</li>
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Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/40001668/ford-stellantis-and-dell-are-among-top-12-large-cap-losers-last-week-july-21-july-27-are-the-other">Ford, Stellantis And Dell Are Among Top 12 Large Cap Losers Last Week (July 21-July 27): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

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