First Citizens BancShares, Inc. (NASDAQ:FCNCO) Stock Short Interest Drops 56.6%

First Citizens BancShares, Inc. (NASDAQ:FCNCO) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 2,900 shares, a drop of 56.6% from the September 30th total of 6,689 shares. Based on an average daily trading volume, of 24,920 shares, the days-to-cover ratio is currently 0.1 days.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded down $0.02 on Friday, hitting $18.20. The company’s stock had a trading volume of 21,672 shares, compared to its average volume of 16,322. First Citizens BancShares has a 52-week low of $17.93 and a 52-week high of $23.43. The firm has a fifty day moving average price of $19.38 and a 200-day moving average price of $20.91.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.3516 per share. The ex-dividend date is Monday, November 30th. This represents a $1.41 dividend on an annualized basis and a yield of 7.7%.

About First Citizens BancShares

First Citizens BancShares, Inc is the parent company of First-Citizens Bank & Trust Company, a full-service commercial bank headquartered in Raleigh, North Carolina. The bank provides deposit accounts, consumer and business lending, mortgage services, credit cards, cash-management and treasury services, and other financial products to individuals, businesses, nonprofit organizations and institutions.

Through its banking operations, First Citizens serves customers across a broad U.S.