Price Action to Note: First Citizens BancShares Inc. Hit 52-Week High

Price Action to Note: First Citizens BancShares Inc. Hit 52 Week High

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) hit a new 52-week high and has $402.43 target or 31.00% above today’s $307.20 share price. The 9 months bullish chart indicates low risk for the $3.95 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $402.43 price target is reached, the company will be worth $1.22 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 42,873 shares traded hands or 107.30% up from the average. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 21.61% since April 7, 2016 and is uptrending. It has outperformed by 16.82% the S&P500.

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.
Aperio Gru Inc Ltd Liability Company accumulated 1,306 shares or 0% of the stock. The New York-based Teachers Advsr Inc has invested 0.01% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Ladenburg Thalmann accumulated 7 shares or 0% of the stock. Tiaa Cref Mngmt Ltd Liability Corporation holds 23,848 shares or 0% of its portfolio. Horizon Kinetics Limited Liability Corporation last reported 1,710 shares in the company. Schroder Mgmt Grp Incorporated accumulated 77,959 shares or 0.04% of the stock. Proshare Advisors Limited Liability Corporation owns 963 shares or 0% of their US portfolio. Blackrock Institutional Tru Na accumulated 193,089 shares or 0.01% of the stock. Loomis Sayles & Company Limited Partnership holds 55 shares or 0% of its portfolio. Renaissance Ltd Liability Corporation, a New York-based fund reported 10,400 shares. Sheets Smith Wealth Mgmt owns 2,933 shares or 0.22% of their US portfolio. Principal Gp has 0% invested in the company for 1,504 shares. Ameriprise Financial last reported 0.01% of its portfolio in the stock. Natl Bank Of America De, a North Carolina-based fund reported 200,923 shares. Systematic Management Limited Partnership owns 90,591 shares or 0.32% of their US portfolio.

Insider Transactions: Since August 4, 2016, the stock had 0 buys, and 2 insider sales for $6.50 million net activity. BRYANT HOPE HOLDING sold $3.25M worth of stock or 12,500 shares. Holding Olivia Britton had sold 12,500 shares worth $3.25M.

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.

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