Zacks: Analysts Expect FCB Financial Holdings, Inc. (FCB) to Announce $0.70 Earnings Per Share
Equities analysts expect that FCB Financial Holdings, Inc. (NYSE:FCB) will post earnings of $0.70 per share for the current quarter, Zacks reports. Two analysts have made estimates for FCB Financial Holdings’ earnings, with estimates ranging from $0.70 to $0.71. FCB Financial Holdings posted earnings per share of $0.59 in the same quarter last year, which indicates a positive year-over-year growth rate of 18.6%. The firm is expected to announce its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that FCB Financial Holdings will report full year earnings of $2.79 per share for the current fiscal year, with EPS estimates ranging from $2.78 to $2.80. For the next fiscal year, analysts forecast that the firm will post earnings of $3.18 per share, with EPS estimates ranging from $3.08 to $3.29. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow FCB Financial Holdings.
FCB Financial Holdings (NYSE:FCB) last announced its earnings results on Tuesday, July 25th. The bank reported $0.71 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $83.47 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year.
Several research firms have recently commented on FCB. BidaskClub cut shares of FCB Financial Holdings from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of FCB Financial Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine raised shares of FCB Financial Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating and set a $54.00 price target on shares of FCB Financial Holdings in a research note on Friday, September 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 price target on shares of FCB Financial Holdings in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.40.
Shares of FCB Financial Holdings (FCB) opened at 43.60 on Friday. The company has a market cap of $1.89 billion, a PE ratio of 15.20 and a beta of 1.31. The company’s 50-day moving average price is $44.43 and its 200 day moving average price is $46.86. FCB Financial Holdings has a one year low of $35.55 and a one year high of $50.33.
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In related news, CEO Kent S. Ellert sold 19,950 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.21, for a total value of $941,839.50. Following the transaction, the chief executive officer now directly owns 151,766 shares in the company, valued at $7,164,872.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kent S. Ellert sold 20,160 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.19, for a total transaction of $951,350.40. Following the completion of the transaction, the chief executive officer now owns 150,366 shares in the company, valued at $7,095,771.54. The disclosure for this sale can be found here. Insiders sold 748,167 shares of company stock worth $34,319,679 over the last 90 days. 15.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. lifted its holdings in FCB Financial Holdings by 1.6% in the second quarter. Suntrust Banks Inc. now owns 8,937 shares of the bank’s stock valued at $426,000 after buying an additional 142 shares during the period. Clinton Group Inc. lifted its holdings in FCB Financial Holdings by 0.9% in the first quarter. Clinton Group Inc. now owns 18,177 shares of the bank’s stock valued at $901,000 after buying an additional 169 shares during the period. HighTower Advisors LLC lifted its holdings in FCB Financial Holdings by 0.8% in the second quarter. HighTower Advisors LLC now owns 27,280 shares of the bank’s stock valued at $1,294,000 after buying an additional 227 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in FCB Financial Holdings by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 28,660 shares of the bank’s stock valued at $1,420,000 after buying an additional 285 shares during the period. Finally, Campbell Newman Asset Management Inc. lifted its holdings in FCB Financial Holdings by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 9,211 shares of the bank’s stock valued at $440,000 after buying an additional 426 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.
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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