Gabelli Equities Analysts Increase Earnings Estimates for FCB Financial Holdings, Inc. (FCB)
FCB Financial Holdings, Inc. (NYSE:FCB) – Investment analysts at Gabelli raised their FY2018 EPS estimates for FCB Financial in a research note issued to investors on Wednesday. Gabelli analyst S. Comery now forecasts that the bank will earn $3.15 per share for the year, up from their prior estimate of $3.10. Gabelli also issued estimates for FCB Financial’s FY2019 earnings at $3.60 EPS.
A number of other equities analysts have also commented on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $54.00 price objective on shares of FCB Financial in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of FCB Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $51.00 price objective on shares of FCB Financial in a research report on Tuesday, October 3rd. Finally, ValuEngine lowered shares of FCB Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.40.
FCB Financial (NYSE:FCB) last issued its earnings results on Tuesday, October 24th. The bank reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $84.21 million during the quarter, compared to analyst estimates of $87.16 million. FCB Financial had a net margin of 34.09% and a return on equity of 11.42%. During the same quarter last year, the business earned $0.60 earnings per share.
In other FCB Financial news, insider Stuart I. Oran sold 5,151 shares of FCB Financial stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $41.94, for a total transaction of $216,032.94. Following the completion of the sale, the insider now directly owns 12,255 shares in the company, valued at $513,974.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stuart I. Oran sold 15,151 shares of FCB Financial stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $41.45, for a total transaction of $628,008.95. Following the transaction, the insider now directly owns 12,255 shares in the company, valued at $507,969.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,607 shares of company stock valued at $19,286,875. 15.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of FCB. Lazard Asset Management LLC purchased a new position in shares of FCB Financial during the second quarter worth approximately $17,499,000. TimesSquare Capital Management LLC increased its stake in shares of FCB Financial by 217.4% in the second 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 during the period. Macquarie Group Ltd. increased its stake in shares of FCB Financial by 159.3% in the third quarter. Macquarie Group Ltd. now owns 506,892 shares of the bank’s stock worth $24,483,000 after buying an additional 311,406 shares during the period. Vanguard Group Inc. increased its stake in shares of FCB Financial by 9.3% in the second 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 during the period. Finally, Chartwell Investment Partners LLC purchased a new position in shares of FCB Financial in the third quarter worth $11,094,000. 94.29% of the stock is currently owned by hedge funds and other institutional investors.
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FCB Financial 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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