FCB Financial Holdings Inc. (FCB) Downgraded to “Hold” at Zacks Investment Research
FCB Financial Holdings Inc. (NYSE:FCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
A number of other analysts have also weighed in on the company. Deutsche Bank AG raised their target price on FCB Financial Holdings from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Hovde Group lifted their price objective on FCB Financial Holdings from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. TheStreet upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of FCB Financial Holdings in a research report on Sunday, July 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.75.
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Shares of FCB Financial Holdings (NYSE:FCB) traded down 1.92% during trading on Thursday, hitting $36.85. The stock had a trading volume of 126,168 shares. FCB Financial Holdings has a 1-year low of $28.64 and a 1-year high of $39.44. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.55 and a beta of 1.23. The firm has a 50 day moving average of $38.28 and a 200 day moving average of $35.72.
FCB Financial Holdings (NYSE:FCB) last announced its earnings results on Thursday, July 21st. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. FCB Financial Holdings had a return on equity of 10.21% and a net margin of 30.51%. Analysts expect that FCB Financial Holdings will post $2.24 EPS for the current fiscal year.
In other FCB Financial Holdings news, Director Paul A. Novelly sold 1,287 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $35.70, for a total transaction of $45,945.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stuart I. Oran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $38.74, for a total value of $387,400.00. Following the transaction, the insider now owns 15,104 shares in the company, valued at approximately $585,128.96. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of FCB Financial Holdings by 287.3% in the second quarter. JPMorgan Chase & Co. now owns 1,094,195 shares of the company’s stock worth $37,202,000 after buying an additional 811,677 shares during the period. Glenmede Trust Co. NA bought a new position in shares of FCB Financial Holdings during the second quarter worth about $25,171,000. Waddell & Reed Financial Inc. bought a new position in shares of FCB Financial Holdings during the second quarter worth about $9,629,000. Dimensional Fund Advisors LP boosted its position in FCB Financial Holdings by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 639,122 shares of the company’s stock valued at $21,730,000 after buying an additional 219,578 shares during the period. Finally, American Century Companies Inc. boosted its position in FCB Financial Holdings by 35.7% in the second quarter. American Century Companies Inc. now owns 792,468 shares of the company’s stock valued at $26,944,000 after buying an additional 208,638 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.
About FCB Financial Holdings
FCB Financial Holdings, Inc is a bank holding company with one 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. The Company provides a range of financial products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through approximately 50 branches in south and central Florida.
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