Market Runner: Time to Reconsider First Citizens BancShares Inc. After Making All-Time High?

Market Runner: Time to Reconsider First Citizens BancShares Inc. After Making All Time High?

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) reached all time high today, Nov, 14 and still has $563.63 target or 67.00% above today’s $337.50 share price. This indicates more upside for the $4.46 billion company. This technical setup was reported by Barchart.com. If the $563.63 PT is reached, the company will be worth $2.99B 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 32,182 shares traded hands or 26.30% up from the average. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 32.92% since April 12, 2016 and is uptrending. It has outperformed by 27.94% 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 Q2 2016. 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.
Babson Management Ltd Liability holds 0.01% or 1,370 shares in its portfolio. Moreover, Bartlett Limited Liability Company has 0.01% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 400 shares. Horizon Kinetics Ltd Llc reported 1,710 shares or 0.01% of all its holdings. Tiaa Cref Inv Mngmt Limited Liability holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 23,848 shares. Blackrock Advsr Limited holds 3,745 shares or 0% of its portfolio. Victory Capital Mngmt has invested 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Invesco Limited accumulated 5,672 shares or 0% of the stock. Deere & last reported 999 shares in the company. Vanguard Group Inc has invested 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Moreover, Denali Limited Liability Company has 0% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 12 shares. Cannell Peter B accumulated 0.01% or 975 shares. Creative Planning holds 626 shares or 0% of its portfolio. Geode Cap Lc accumulated 0.01% or 67,093 shares. Allianz Asset Mgmt Ag accumulated 1,051 shares or 0% of the stock. Bb&T owns 11,666 shares or 0.06% of their US portfolio.

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

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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