Zacks Investment Research upgraded shares of FCB Financial Holdings, Inc. (NYSE:FCB) from a sell rating to a hold rating in a report issued on Monday.
According to Zacks, “FCB Financial Holdings Inc. is a bank holding company for Florida Community Bank. The Company, through its subsidiaries, operates community banks in Florida, United States. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities. FCB Financial Holdings Inc. is headquartered in Weston, Florida. “
FCB has been the topic of several other reports. BidaskClub downgraded FCB Financial Holdings from a hold rating to a sell rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $51.00 target price on shares of FCB Financial Holdings in a research note on Tuesday, October 3rd. ValuEngine downgraded FCB Financial Holdings from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada started coverage on FCB Financial Holdings in a report on Monday, July 17th. They issued an outperform rating and a $56.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $53.40.
Shares of FCB Financial Holdings (FCB) traded down 0.84% on Monday, reaching $47.40. The company’s stock had a trading volume of 25,599 shares. FCB Financial Holdings has a 1-year low of $35.55 and a 1-year high of $50.33. The stock has a 50-day moving average price of $45.46 and a 200-day moving average price of $46.67. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.52 and a beta of 1.34.
FCB Financial Holdings (NYSE:FCB) last announced its earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.47 million. During the same period last year, the business posted $0.56 EPS. The company’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that FCB Financial Holdings will post $2.78 EPS for the current year.
In other news, insider Les J. Lieberman sold 60,388 shares of FCB Financial Holdings stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.19, for a total value of $2,849,709.72. Following the completion of the sale, the insider now owns 400,995 shares of the company’s stock, valued at $18,922,954.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stuart I. Oran sold 11,142 shares of FCB Financial Holdings stock in a transaction on Friday, October 6th. The shares were sold at an average price of $48.90, for a total value of $544,843.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 939,790 shares of company stock valued at $43,358,114. Insiders own 15.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new stake in FCB Financial Holdings during the second quarter valued at about $109,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of FCB Financial Holdings in the first quarter worth about $117,000. Ameritas Investment Partners Inc. purchased a new stake in shares of FCB Financial Holdings in the first quarter worth about $128,000. M&R Capital Management Inc. boosted its position in shares of FCB Financial Holdings by 600.0% in the second quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock worth $152,000 after buying an additional 3,000 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of FCB Financial Holdings by 23.6% in the first quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock worth $168,000 after buying an additional 649 shares during the period. 94.00% of the stock is owned by hedge funds and other institutional investors.
FCB Financial Holdings Company Profile
FCB Financial Holdings, Inc is a bank holding company with a national bank subsidiary, Florida Community Bank, National Association (the Bank). The Company operates in the Community Banking segment. Through the Bank, the Company provides a range of retail and commercial banking services. As of December 31, 2016, the Company provided a range of financial products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through 46 branches in south and central Florida.
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