Markets

Insider Bets Paying Off At FCNCA As New 52-Week High Reached

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Wednesday, shares of First Citizens BancShares Inc (Symbol: FCNCA) touched a new 52-week high of $299.00/share. That's a 37.53% rise, or $81.59 per share from the 52-week low of $217.41 set back on 02/11/2016. That means at today's intraday high, any investor who purchased FCNCA stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, FCNCA has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
06/17/2016 Frank B. Holding Jr. Chairman and CEO 300 $225.00 $67,500.00
06/28/2016 John M. Alexander Director 500 $237.64 $118,820.44
06/28/2016 Frank B. Holding Jr. Chairman and CEO 600 $217.83 $130,700.00

The chart below shows where FCNCA has traded over the past year, with the 50-day and 200-day moving averages included.

First Citizens BancShares Inc Moving Averages Chart

In afternoon trading on Wednesday, FCNCA shares are changing hands at $299.00/share, right at the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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