Price Action To Observe: First Citizens BancShares Inc. Stock Is An Record High Flier

Price Action To Observe: First Citizens BancShares Inc. Stock Is An Record High Flier

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) reached all time high today, Nov, 24 and still has $389.65 target or 9.00% above today’s $357.48 share price. This indicates more upside for the $4.67 billion company. This technical setup was reported by Barchart.com. If the $389.65 PT is reached, the company will be worth $420.30M 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. The stock increased 1.10% or $3.9 on November 23, hitting $357.48. About 13,407 shares traded hands. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 38.45% since April 22, 2016 and is uptrending. It has outperformed by 33.04% the S&P500.

Analysts await First Citizens BancShares Inc. (NASDAQ:FCNCA) to report earnings on January, 25.

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 decreased to 1.32 in 2016 Q2. Its down 0.08, from 1.4 in 2016Q1. The ratio dropped, 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.
First Trust Advsr Limited Partnership holds 17,673 shares or 0.01% of its portfolio. Tiaa Cref Inv Mngmt Ltd has 23,848 shares for 0% of their US portfolio. Northern Trust Corp last reported 0.01% of its portfolio in the stock. Maltese Cap Ltd Liability Corporation holds 24,000 shares or 0.78% of its portfolio. The New York-based Amalgamated Bancorp has invested 0.01% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Victory Cap Management Inc owns 394 shares or 0% of their US portfolio. Moreover, Retail Bank Of America De has 0.01% invested in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 200,923 shares. Teacher Retirement System Of Texas holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 1,005 shares. California State Teachers Retirement Sys, a California-based fund reported 16,012 shares. Blackrock Fund Advsrs holds 182,048 shares or 0.01% of its portfolio. Legal General Grp Pcl last reported 1,513 shares in the company. Salem Invest Counselors last reported 0.18% of its portfolio in the stock. Boston Prtn has invested 0.03% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA). Us Bank De holds 0% or 4 shares in its portfolio. Horizon Kinetics Ltd Liability Corporation holds 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 1,710 shares.

Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 2 insider sales for $6.50 million net activity. BRYANT HOPE HOLDING also sold $3.25M worth of First Citizens BancShares Inc. (NASDAQ:FCNCA) on Thursday, August 4. Holding Olivia Britton sold $3.25 million worth of stock or 12,500 shares.

More 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 Globenewswire.com published the news titled: “First Citizens BancShares Reports Earnings for Second Quarter 2015” on July 29, 2015. Globenewswire.com‘s news article titled: “First Citizens Completes Systems Conversion of Merged South Carolina Bank” with publication date: September 08, 2015 was also an interesting one.

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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