FCB Financial Holdings Inc (FCB) Stock Rating Upgraded by Zacks Investment Research
FCB Financial Holdings Inc (NYSE:FCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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. “
Other research analysts have also issued reports about the stock. Deutsche Bank AG restated a “buy” rating and issued a $57.00 target price (up from $56.00) on shares of FCB Financial Holdings in a report on Sunday, April 23rd. ValuEngine upgraded shares of FCB Financial Holdings from a “hold” rating to a “buy” rating in a report on Thursday. BidaskClub lowered shares of FCB Financial Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 target price on shares of FCB Financial Holdings in a report on Wednesday, April 5th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.75.
Shares of FCB Financial Holdings (NYSE:FCB) traded down 1.14% during mid-day trading on Monday, reaching $47.85. 140,195 shares of the company were exchanged. The stock has a 50 day moving average price of $46.82 and a 200-day moving average price of $47.50. The stock has a market capitalization of $2.04 billion, a P/E ratio of 18.00 and a beta of 1.31. FCB Financial Holdings has a 12 month low of $33.94 and a 12 month high of $50.33.
FCB Financial Holdings (NYSE:FCB) last released its earnings results on Thursday, April 20th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.44 million. FCB Financial Holdings had a net margin of 48.95% and a return on equity of 15.35%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Analysts predict that FCB Financial Holdings will post $2.65 earnings per share for the current year.
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In other news, Director Alan S. Bernikow sold 5,870 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $49.00, for a total transaction of $287,630.00. Following the transaction, the director now directly owns 10,070 shares in the company, valued at approximately $493,430. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stuart I. Oran sold 3,000 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $48.35, for a total transaction of $145,050.00. Following the transaction, the insider now owns 10,104 shares in the company, valued at $488,528.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 629,368 shares of company stock worth $30,054,506. 15.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of FCB Financial Holdings during the fourth quarter valued at $1,981,000. State Street Corp raised its position in shares of FCB Financial Holdings by 72.0% in the fourth quarter. State Street Corp now owns 864,511 shares of the bank’s stock valued at $41,233,000 after buying an additional 361,838 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of FCB Financial Holdings by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 984,917 shares of the bank’s stock valued at $46,981,000 after buying an additional 175,646 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of FCB Financial Holdings during the fourth quarter valued at $290,000. Finally, Guggenheim Capital LLC bought a new position in shares of FCB Financial Holdings during the fourth quarter valued at $455,000. Institutional investors and hedge funds own 94.73% 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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