Analysts Anticipate FCB Financial Holdings, Inc. (FCB) Will Post Quarterly Sales of $87.16 Million
Wall Street brokerages forecast that FCB Financial Holdings, Inc. (NYSE:FCB) will announce sales of $87.16 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for FCB Financial Holdings’ earnings. The highest sales estimate is $87.72 million and the lowest is $86.60 million. FCB Financial Holdings reported sales of $75.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.6%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 24th.
On average, analysts expect that FCB Financial Holdings will report full year sales of $87.16 million for the current fiscal year, with estimates ranging from $332.90 million to $339.81 million. For the next year, analysts expect that the company will report sales of $396.18 million per share, with estimates ranging from $391.90 million to $399.25 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow FCB Financial Holdings.
FCB has been the subject of a number of research analyst reports. ValuEngine raised shares of FCB Financial Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of FCB Financial Holdings from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Royal Bank Of Canada initiated coverage on shares of FCB Financial Holdings in a research report on Monday, July 17th. They set an “outperform” rating and a $56.00 price objective for the company. BidaskClub cut shares of FCB Financial Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 price objective on shares of FCB Financial Holdings in a research report on Thursday, July 27th. One investment 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 stock currently has a consensus rating of “Hold” and an average price target of $53.40.
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Shares of FCB Financial Holdings (NYSE FCB) opened at 47.30 on Tuesday. The stock’s 50 day moving average is $46.13 and its 200 day moving average is $46.56. FCB Financial Holdings has a 1-year low of $35.55 and a 1-year high of $50.33. The company has a market cap of $2.05 billion, a P/E ratio of 16.49 and a beta of 1.33.
In other FCB Financial Holdings news, insider Stuart I. Oran sold 11,142 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $47.36, for a total transaction of $527,685.12. Following the sale, the insider now directly owns 18,246 shares in the company, valued at approximately $864,130.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alan S. Bernikow sold 44,130 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $49.00, for a total transaction of $2,162,370.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 956,074 shares of company stock worth $44,129,401. 15.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FCB. BlackRock Inc. lifted its holdings in FCB Financial Holdings by 11,599.9% during the 1st quarter. BlackRock Inc. now owns 2,251,886 shares of the bank’s stock worth $111,582,000 after buying an additional 2,232,639 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in FCB Financial Holdings during the 2nd quarter worth approximately $17,499,000. TimesSquare Capital Management LLC lifted its holdings in FCB Financial Holdings by 217.4% during the 2nd quarter. TimesSquare Capital Management LLC now owns 532,600 shares of the bank’s stock worth $25,432,000 after buying an additional 364,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in FCB Financial Holdings by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,089,371 shares of the bank’s stock worth $147,518,000 after buying an additional 262,969 shares in the last quarter. Finally, State Street Corp lifted its holdings in FCB Financial Holdings by 26.1% during the 1st quarter. State Street Corp now owns 1,090,544 shares of the bank’s stock worth $54,036,000 after buying an additional 226,033 shares in the last quarter. Institutional investors own 93.73% 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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