The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) reached all time high today, Oct, 11 and still has $453.22 target or 54.00% above today’s $294.30 share price. This indicates more upside for the $3.82 billion company. This technical setup was reported by Barchart.com. If the $453.22 PT is reached, the company will be worth $2.06 billion 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 27 shares traded hands. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 19.34% since March 8, 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 Q2 2016. 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.
Bnp Paribas Arbitrage Sa owns 853 shares or 0% of their US portfolio. California Pub Employees Retirement Sys accumulated 18,176 shares or 0.01% of the stock. Systematic Fincl Limited Partnership holds 0.32% or 90,591 shares in its portfolio. Blackrock Advisors Lc has 3,745 shares for 0% of their US portfolio. Goldman Sachs Gru Incorporated last reported 0% of its portfolio in the stock. Parkside Comml Bank Tru holds 108 shares or 0.01% of its portfolio. Cna Fincl Corporation, a Illinois-based fund reported 2,545 shares. Moreover, Bb&T Corp has 0.06% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 11,666 shares. Schroder Inv Management holds 0.04% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 77,959 shares. Moreover, Zebra Capital Mgmt Llc has 0.5% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 5,603 shares. Ent Ser holds 0% or 16 shares in its portfolio. Rhumbline Advisers holds 0.01% or 10,887 shares in its portfolio. First Citizens Savings Bank And reported 4,992 shares or 0.12% of all its holdings. Teacher Retirement Of Texas has invested 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Citigroup accumulated 3,090 shares or 0% of the stock.
Insider Transactions: Since May 6, 2016, the stock had 1 insider buy, and 2 insider sales for $6.49 million net activity. Shares for $3.25 million were sold by Holding Olivia Britton. $3.25 million worth of shares were sold by BRYANT HOPE HOLDING on Thursday, August 4. Hoppe Robert R bought $8,343 worth of First Citizens BancShares Inc. (NASDAQ:FCNCA) on Friday, May 6.
More news for First Citizens BancShares Inc. (NASDAQ:FCNCA) were recently published by: Globenewswire.com, which released: “First Citizens Bank and Cordia Bancorp Inc. Announce Merger Agreement” on May 20, 2016. Globenewswire.com‘s article titled: “First Citizens BancShares Reports Earnings for Second Quarter 2015” and published on July 29, 2015 is yet another important article.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.