Live Stock Coverage: Time to Reconsider First Citizens BancShares Inc. After Touching 52-Week High?

Live Stock Coverage: Time to Reconsider First Citizens BancShares Inc. After Touching 52 Week High?

The stock of First Citizens BancShares Inc. (NASDAQ:FCNCA) hit a new 52-week high and has $387.67 target or 8.00% above today’s $358.95 share price. The 7 months bullish chart indicates low risk for the $4.70 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $387.67 price target is reached, the company will be worth $376.00 million 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 23,257 shares traded hands. First Citizens BancShares Inc. (NASDAQ:FCNCA) has risen 38.14% since April 28, 2016 and is uptrending. It has outperformed by 32.22% 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 Q2 2016. Its down 0.08, from 1.4 in 2016Q1. The ratio worsened, 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 holds 0.01% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 1,370 shares. Parallax Volatility Advisers L P holds 0% of its portfolio in First Citizens BancShares Inc. (NASDAQ:FCNCA) for 9 shares. State Bank Of Ny Mellon Corporation accumulated 0% or 36,818 shares. Pnc Svcs Group Inc has 0% invested in the company for 1,783 shares. Highbridge Cap Management Ltd Company holds 814 shares or 0% of its portfolio. Us Bankshares De has 4 shares for 0% of their US portfolio. Ubs Asset Americas last reported 4,862 shares in the company. Parametric Associate Ltd Llc accumulated 5,777 shares or 0% of the stock. The New York-based Qs Invsts Llc has invested 0% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Matarin Cap Management Limited reported 1,029 shares or 0% of all its holdings. State Street has 146,192 shares for 0% of their US portfolio. Cornerstone Mgmt Ltd Liability Co owns 1,197 shares or 0% of their US portfolio. First Citizens Natl Bank & Tru Co accumulated 0.12% or 4,992 shares. The United Kingdom-based Blackrock Grp Incorporated Ltd has invested 0% in First Citizens BancShares Inc. (NASDAQ:FCNCA). Prudential Fincl last reported 20,723 shares in the company.

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

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. Reuters.com‘s news article titled: “BRIEF-First Citizens Bancshares reports earnings for Q3 2016” with publication date: October 26, 2016 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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