Could First Citizens BancShares, Inc. (FCNCA) See a Reversal After Breaking Its 52-Week High?

January 14, 2018 - By Adrian Mccoy

Investors sentiment increased to 1.25 in 2017 Q3. Its up 0.19, from 1.06 in 2017Q2. It increased, as 6 investors sold First Citizens BancShares, Inc. shares while 42 reduced holdings. 21 funds opened positions while 39 raised stakes. 5.35 million shares or 0.24% less from 5.36 million shares in 2017Q2 were reported.
Hsbc Hldg Public Limited Company has invested 0% in First Citizens BancShares, Inc. (NASDAQ:FCNCA). 19,457 were accumulated by Tiaa Cref Management Ltd Limited Liability Company. Bb&T invested in 0.08% or 10,890 shares. Ubs Asset Mgmt Americas has 0% invested in First Citizens BancShares, Inc. (NASDAQ:FCNCA). Metropolitan Life Ins has 0.01% invested in First Citizens BancShares, Inc. (NASDAQ:FCNCA) for 5,102 shares. Menta Cap Ltd has 835 shares. Renaissance Technologies Limited owns 3,700 shares. 14,369 were accumulated by Federated Investors Incorporated Pa. Swiss Commercial Bank has 0.01% invested in First Citizens BancShares, Inc. (NASDAQ:FCNCA). Legal & General Grp Pcl invested in 3,052 shares. Moreover, Susquehanna Ltd Liability Partnership has 0% invested in First Citizens BancShares, Inc. (NASDAQ:FCNCA) for 1,428 shares. Sg Americas Securities Limited Liability Corp has 0.01% invested in First Citizens BancShares, Inc. (NASDAQ:FCNCA) for 2,550 shares. Invesco Limited holds 0% in First Citizens BancShares, Inc. (NASDAQ:FCNCA) or 6,755 shares. Genesee Valley Trust Co accumulated 1,024 shares. Citadel Advisors Ltd Company, a Illinois-based fund reported 1,998 shares.

Since August 7, 2017, it had 0 insider buys, and 10 selling transactions for $8.80 million activity. Holding Olivia Britton had sold 2,255 shares worth $766,362.

The stock of First Citizens BancShares, Inc. (NASDAQ:FCNCA) hit a new 52-week high and has $460.42 target or 3.00 % above today’s $447.01 share price. The 9 months bullish chart indicates low risk for the $5.32 billion company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $460.42 price target is reached, the company will be worth $159.48M 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.

The stock increased 0.60% or $2.65 during the last trading session, reaching $447.01. About 56,420 shares traded or 163.79% up from the average. First Citizens BancShares, Inc. (NASDAQ:FCNCA) has risen 33.93% since January 14, 2017 and is uptrending. It has outperformed by 17.23% the S&P500.

Another recent and important First Citizens BancShares, Inc. (NASDAQ:FCNCA) news was published by Bizjournals.com which published an article titled: “One of Tampa’s largest banks sells to North Carolina bank” on December 18, 2017.

First Citizens BancShares, Inc. operates as the holding firm for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. The company has market cap of $5.32 billion. The Company’s deposit products include checking, savings, money market and time deposit accounts. It has a 16.67 P/E ratio. The company??s loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, and consumer loans.

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