Stock On Watch: After Achieving All Time High, Is First Citizens BancShares Inc.’s Near-Term Analysis Positive?

Stock On Watch: After Achieving All Time High, Is First Citizens BancShares Inc.'s Near Term Analysis Positive?

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) reached all time high today, Sep, 30 and still has $475.58 target or 62.00% above today’s $293.57 share price. This indicates more upside for the $3.78 billion company. This technical setup was reported by Barchart.com. If the $475.58 PT is reached, the company will be worth $2.34B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 24,986 shares traded hands or 28.50% up from the average. 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 increased, 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.
Bnp Paribas Arbitrage has invested 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Eagle Management holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 1,560 shares. Calvert Inv Management Inc has 0.19% invested in the company for 13,929 shares. Jpmorgan Chase & Company last reported 19,169 shares in the company. Cna Financial holds 0.16% or 2,545 shares in its portfolio. Tiaa Cref Mgmt Ltd Liability has 23,848 shares for 0% of their US portfolio. Parallax Volatility Advisers L P holds 0% or 9 shares in its portfolio. Pnc Financial Service Gp last reported 0% of its portfolio in the stock. Teachers Retirement Systems Of The State Of Kentucky reported 8,779 shares or 0.03% of all its holdings. Wellington Mngmt Group Llp holds 256,434 shares or 0.02% of its portfolio. Moreover, Deutsche Bank & Trust Ag has 0% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 4,720 shares. Aperio Gru Inc Limited Liability Corp owns 1,306 shares or 0% of their US portfolio. Blackrock Invest Management Lc has invested 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Maltese Management Limited Liability Corporation holds 24,000 shares or 0.78% of its portfolio. Barclays Pcl reported 10 shares or 0% of all its holdings.

Insider Transactions: Since May 6, 2016, the stock had 1 buy, and 2 sales for $6.49 million net activity. Hoppe Robert R bought $8,343 worth of stock or 33 shares. BRYANT HOPE HOLDING sold $3.25M worth of stock or 12,500 shares. The insider Holding Olivia Britton sold 12,500 shares worth $3.25M.

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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