Price Action Report: Time to Reconsider First Citizens BancShares Inc. After Touching 52-Week High?

Price Action Report: Time to Reconsider First Citizens BancShares Inc. After Touching 52 Week High?

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) hit a new 52-week high and has $464.00 target or 60.00% above today’s $290.00 share price. The 5 months bullish chart indicates low risk for the $3.73 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $464.00 price target is reached, the company will be worth $2.24 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 12,062 shares traded hands. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 20.46% since February 26, 2016 and is uptrending. It has outperformed by 10.03% the S&P500.

Analysts await First Citizens BancShares Inc. (NASDAQ:FCNCA) to report earnings on October, 26.

According to Zacks Investment Research, “First Citizens is a bank holding company engaged in general banking business. The Bank is the fifth largest commercial bank in North Carolina based upon total deposits. Its growth has been generated principally by acquisitions and de novo branching that have occurred under the leadership of the R.P. Holding family.”

Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.34, from 1.06 in 2016Q1. The ratio improved, as 3 funds sold all First Citizens BancShares Inc. shares owned while 37 reduced positions. 16 funds bought stakes while 40 increased positions. They now own 5.49 million shares or 0.33% less from 5.51 million shares in 2016Q1.
Metropolitan Life Company Ny reported 5,328 shares or 0.01% of all its holdings. State Street Corporation holds 0% or 146,192 shares in its portfolio. Aqr Cap Management Ltd Company holds 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 15,302 shares. Moreover, Tci Wealth Advsr Inc has 0% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 5 shares. Rhumbline Advisers accumulated 10,887 shares or 0.01% of the stock. Moreover, Brandywine Mgmt Llc has 0.04% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 22,914 shares. Great West Life Assurance Can has 276,764 shares for 0.25% of their US portfolio. Denali Advisors Limited Company holds 0% or 12 shares in its portfolio. Wellington Management Gru Ltd Liability Partnership, a Massachusetts-based fund reported 256,434 shares. The New Jersey-based Prudential Fincl Incorporated has invested 0.01% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Proshare Advisors Ltd Liability holds 963 shares or 0% of its portfolio. Eagle Cap Management Lc holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 1,560 shares. Wells Fargo & Mn holds 0.02% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 203,726 shares. Ubs Asset Mgmt Americas has 4,862 shares for 0% of their US portfolio. Boston owns 80,696 shares or 0.03% of their US portfolio.

Insider Transactions: Since May 6, 2016, the stock had 1 insider buy, and 2 sales for $6.49 million net activity. 12,500 shares were sold by Holding Olivia Britton, worth $3.25 million on Thursday, August 4. $3.25 million worth of shares were sold by BRYANT HOPE HOLDING on Thursday, August 4. $8,343 worth of First Citizens BancShares Inc. (NASDAQ:FCNCA) was bought by Hoppe Robert R.

More important recent First Citizens BancShares Inc. (NASDAQ:FCNCA) news were published by: Globenewswire.com which released: “First Citizens Bank and Cordia Bancorp Inc. Announce Merger Agreement” on May 20, 2016, also Twst.com published article titled: “First Citizens BancShares Inc.: First Citizens Bank Completes Merger with …”, Nasdaq.com published: “Ex-Dividend Reminder: Urban Edge Properties, Empire State Realty Trust and …” on September 13, 2016. More interesting news about First Citizens BancShares Inc. (NASDAQ:FCNCA) was released by: Finance.Yahoo.com and their article: “First Citizens Study Shows U.S. Small Business Owners Have Rising Confidence …” with publication date: September 22, 2016.

FCNCA Company Profile

First Citizens BancShares, Inc. (BancShares), incorporated on August 8, 1986, is a holding company. The Firm invests the liquidity generated from its funding sources in interest-earning assets, including loans and leases, investment securities and overnight investments. It also invests in bank premises, hardware, software, furniture and equipment used to conduct its commercial banking business. The Firm provides treasury services products, cardholder and merchant services, wealth management services and various other services and products typically offered by commercial banks. BancShares conducts its banking activities through its subsidiary First-Citizens Bank & Trust Company (FCB), a state-chartered bank.

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