FCB Financial Holdings’ (FCB) “Buy” Rating Reaffirmed at Royal Bank Of Canada
FCB Financial Holdings, Inc. (NYSE:FCB)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued on Friday. They currently have a $54.00 price target on the bank’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 30.28% from the company’s previous close.
A number of other equities research analysts also recently commented on FCB. Zacks Investment Research downgraded FCB Financial Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. BidaskClub downgraded FCB Financial Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. ValuEngine upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $51.00 target price on shares of FCB Financial Holdings in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. FCB Financial Holdings presently has an average rating of “Hold” and a consensus target price of $53.40.
Shares of FCB Financial Holdings (NYSE FCB) opened at 41.45 on Friday. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 14.45 and a beta of 1.31. FCB Financial Holdings has a 1-year low of $35.55 and a 1-year high of $50.33. The firm has a 50-day moving average price of $44.87 and a 200-day moving average price of $47.03.
FCB Financial Holdings (NYSE:FCB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ 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 million for the quarter, compared to the consensus estimate of $83.47 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that FCB Financial Holdings will post $2.80 EPS for the current year.
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In related news, insider Les J. Lieberman sold 60,388 shares of the business’s 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 sale, the insider now owns 400,995 shares in the company, valued at approximately $18,922,954.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan S. Bernikow sold 5,870 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $49.00, for a total value of $287,630.00. Following the completion of the sale, the director now owns 10,070 shares in the company, valued at approximately $493,430. The disclosure for this sale can be found here. Insiders sold a total of 722,871 shares of company stock worth $33,237,263 in the last quarter. Company insiders own 15.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of FCB. Tower Research Capital LLC TRC purchased a new stake in shares of FCB Financial Holdings in the 2nd quarter valued at $109,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of FCB Financial Holdings in the 1st quarter valued at $117,000. Ameritas Investment Partners Inc. purchased a new stake in shares of FCB Financial Holdings in the 1st quarter valued at $128,000. M&R Capital Management Inc. raised its holdings in shares of FCB Financial Holdings by 600.0% in the 2nd quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock valued at $152,000 after buying an additional 3,000 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of FCB Financial Holdings by 23.6% in the 1st quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after buying an additional 649 shares during the period. Hedge funds and other institutional investors own 93.76% 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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