Zacks Investment Research lowered shares of FCB Financial Holdings, Inc. (NYSE:FCB) from a buy rating to a hold rating in a research report report published on Monday, July 31st.
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. “
Several other equities research analysts have also recently weighed in on FCB. Keefe, Bruyette & Woods reissued a hold rating and issued a $52.00 price target on shares of FCB Financial Holdings in a research note on Wednesday, April 5th. Deutsche Bank AG reaffirmed a buy rating and set a $57.00 target price (up previously from $56.00) on shares of FCB Financial Holdings in a research note on Sunday, April 23rd. BidaskClub cut FCB Financial Holdings from a buy rating to a hold rating in a research note on Saturday, June 24th. ValuEngine raised FCB Financial Holdings from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada assumed coverage on FCB Financial Holdings in a research note on Monday, July 17th. They set an outperform rating and a $56.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. FCB Financial Holdings currently has a consensus rating of Hold and an average price target of $51.67.
FCB Financial Holdings (NYSE FCB) traded down 0.23% during trading on Monday, hitting $43.20. The stock had a trading volume of 199,834 shares. FCB Financial Holdings has a 52 week low of $35.55 and a 52 week high of $50.33. The company has a 50-day moving average of $46.81 and a 200 day moving average of $47.41. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 15.06 and a beta of 1.29.
FCB Financial Holdings (NYSE:FCB) last issued its quarterly 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. The company had revenue of $83 million during the quarter, compared to analysts’ expectations of $83.47 million. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, equities research analysts anticipate that FCB Financial Holdings will post $2.80 EPS for the current year.
In other news, CEO Kent S. Ellert sold 11,111 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $46.38, for a total value of $515,328.18. Following the transaction, the chief executive officer now owns 146,072 shares in the company, valued at $6,774,819.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Les J. Lieberman sold 813 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $47.04, for a total value of $38,243.52. Following the completion of the transaction, the insider now owns 299,020 shares in the company, valued at approximately $14,065,900.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 694,846 shares of company stock worth $32,405,574. Corporate insiders own 15.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of FCB Financial Holdings during the second quarter worth approximately $109,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of FCB Financial Holdings during the first quarter worth approximately $117,000. Ameritas Investment Partners Inc. acquired a new stake in shares of FCB Financial Holdings during the first quarter worth approximately $128,000. M&R Capital Management Inc. raised its stake 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 raised its stake 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. Institutional investors and hedge funds own 92.63% of the company’s stock.
About FCB Financial Holdings
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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