United Services Automobile Association cut its position in shares of FCB Financial Holdings Inc (NYSE:FCB) by 19.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,190 shares of the bank’s stock after selling 23,458 shares during the period. United Services Automobile Association owned approximately 0.20% of FCB Financial worth $5,597,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Meadow Creek Investment Management LLC bought a new position in FCB Financial during the second quarter valued at approximately $120,000. Glen Harbor Capital Management LLC bought a new position in FCB Financial during the second quarter valued at approximately $146,000. Aperio Group LLC bought a new position in FCB Financial during the second quarter valued at approximately $210,000. Signition LP bought a new position in FCB Financial during the second quarter valued at approximately $214,000. Finally, HPM Partners LLC bought a new position in FCB Financial during the second quarter valued at approximately $217,000. 92.49% of the stock is owned by institutional investors.
A number of brokerages recently commented on FCB. ValuEngine lowered FCB Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Gabelli lowered FCB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Royal Bank of Canada reissued a “buy” rating and set a $57.00 price target on shares of FCB Financial in a research note on Wednesday, July 25th. UBS Group raised FCB Financial from a “sell” rating to a “neutral” rating and increased their price target for the company from $50.00 to $54.00 in a research note on Thursday, July 26th. Finally, Zacks Investment Research raised FCB Financial from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.00.
NYSE:FCB opened at $44.18 on Friday. The company has a market capitalization of $2.22 billion, a PE ratio of 13.47, a P/E/G ratio of 0.73 and a beta of 1.18. FCB Financial Holdings Inc has a 1 year low of $43.20 and a 1 year high of $62.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.93 and a quick ratio of 0.93.
FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $98.77 million during the quarter, compared to analyst estimates of $99.74 million. FCB Financial had a return on equity of 12.54% and a net margin of 29.07%. During the same period last year, the company earned $0.71 EPS. Research analysts expect that FCB Financial Holdings Inc will post 3.69 EPS for the current fiscal year.
FCB Financial Company Profile
FCB Financial Holdings, Inc operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida. The company offers various deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificates of deposit; checking products; and money market accounts and IRAs.
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