FCB Financial (NYSE:FCB) had its price objective raised by analysts at Bank of America from $60.00 to $65.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the bank’s stock. Bank of America’s price objective indicates a potential upside of 15.86% from the company’s current price.
A number of other equities analysts also recently commented on FCB. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 target price on shares of FCB Financial in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Thursday, January 11th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 target price on shares of FCB Financial in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. FCB Financial has a consensus rating of “Buy” and a consensus target price of $59.20.
Shares of FCB Financial (FCB) traded up $0.55 during trading on Wednesday, reaching $56.10. 142,216 shares of the company’s stock were exchanged, compared to its average volume of 249,698. The company has a market capitalization of $2,430.00, a P/E ratio of 20.63, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.93. FCB Financial has a fifty-two week low of $39.90 and a fifty-two week high of $57.20.
In other news, insider Stuart I. Oran sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $56.24, for a total transaction of $281,200.00. Following the transaction, the insider now owns 12,104 shares in the company, valued at $680,728.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stuart I. Oran sold 11,142 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $45.76, for a total transaction of $509,857.92. Following the transaction, the insider now owns 18,246 shares in the company, valued at approximately $834,936.96. The disclosure for this sale can be found here. Insiders sold 783,350 shares of company stock valued at $41,051,997 over the last quarter. 15.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of FCB. Macquarie Group Ltd. increased its holdings in shares of FCB Financial by 159.3% during the third quarter. Macquarie Group Ltd. now owns 506,892 shares of the bank’s stock valued at $24,483,000 after acquiring an additional 311,406 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of FCB Financial by 9.3% during the second quarter. Vanguard Group Inc. now owns 3,089,371 shares of the bank’s stock valued at $147,518,000 after acquiring an additional 262,969 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of FCB Financial during the third quarter valued at about $11,094,000. Dimensional Fund Advisors LP increased its holdings in shares of FCB Financial by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock valued at $70,374,000 after acquiring an additional 173,511 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of FCB Financial by 6.8% during the second quarter. BlackRock Inc. now owns 2,405,513 shares of the bank’s stock valued at $114,862,000 after acquiring an additional 153,627 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.
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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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