The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) hit a new 52-week high and has $500.53 target or 43.00% above today’s $350.02 share price. The 6 months bullish chart indicates low risk for the $4.52B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $500.53 price target is reached, the company will be worth $1.94B 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 31,304 shares traded hands or 14.75% up from the average. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 33.03% since April 15, 2016 and is uptrending. It has outperformed by 28.41% 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.
Pnc holds 0% or 1,783 shares in its portfolio. Nationwide Fund Advsr holds 6,786 shares or 0.01% of its portfolio. California Employees Retirement System has 0.01% invested in the company for 18,176 shares. Vanguard Grp accumulated 0.01% or 557,598 shares. Moreover, Alliancebernstein L P has 0% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 15,870 shares. Metropolitan Life Insurance Ny, a New York-based fund reported 5,328 shares. The Illinois-based Ubs Asset Mgmt Americas has invested 0% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Brown Advisory accumulated 0.04% or 44,382 shares. Moreover, Northern Corporation has 0.01% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 87,571 shares. The New York-based Morgan Stanley has invested 0% in First Citizens BancShares Inc. (NASDAQ:FCNCA). The Illinois-based Guggenheim Cap Ltd Liability has invested 0% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Geode Limited Co holds 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 67,093 shares. Dimensional Fund Advsr Lp accumulated 0.03% or 204,966 shares. Swiss Savings Bank holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 11,800 shares. Teacher Retirement Systems Of Texas holds 0% or 1,005 shares in its portfolio.
Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 2 selling transactions for $6.50 million net activity. $3.25 million worth of First Citizens BancShares Inc. (NASDAQ:FCNCA) was sold by Holding Olivia Britton. The insider BRYANT HOPE HOLDING 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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