Zacks Investment Research upgraded shares of FCB Financial (NYSE:FCB) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “FCB Financial Holdings Inc. is a bank holding company for Florida Community Bank. The Company, through its subsidiaries, operates community banks in Florida, United States. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities. FCB Financial Holdings Inc. is headquartered in Weston, Florida. “
A number of other brokerages also recently issued reports on FCB. Royal Bank of Canada reissued a buy rating and set a $61.00 target price on shares of FCB Financial in a research note on Wednesday, January 24th. Bank of America increased their target price on FCB Financial from $60.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $59.20.
FCB Financial (NYSE:FCB) opened at $55.85 on Tuesday. The stock has a market capitalization of $2,509.00, a P/E ratio of 20.46, a PEG ratio of 0.86 and a beta of 1.32. FCB Financial has a one year low of $39.90 and a one year high of $57.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 0.93.
FCB Financial (NYSE:FCB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $85.85 million during the quarter, compared to the consensus estimate of $88.53 million. FCB Financial had a return on equity of 11.64% and a net margin of 30.60%. During the same period in the prior year, the business posted $0.62 EPS. research analysts anticipate that FCB Financial will post 3.59 earnings per share for the current year.
In related news, CEO Kent S. Ellert sold 13,646 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $51.97, for a total value of $709,182.62. Following the completion of the transaction, the chief executive officer now directly owns 146,139 shares of the company’s stock, valued at approximately $7,594,843.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Les J. Lieberman sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $51.74, for a total value of $383,238.18. Following the completion of the transaction, the insider now directly owns 305,605 shares of the company’s stock, valued at $15,812,002.70. The disclosure for this sale can be found here. Insiders sold a total of 635,595 shares of company stock valued at $34,573,096 over the last ninety days. 15.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC purchased a new position in FCB Financial in the 3rd quarter valued at approximately $146,000. Truepoint Inc. increased its stake in FCB Financial by 316.8% in the 4th quarter. Truepoint Inc. now owns 3,947 shares of the bank’s stock valued at $201,000 after purchasing an additional 3,000 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in FCB Financial in the 4th quarter valued at approximately $208,000. Brown Advisory Inc. purchased a new position in FCB Financial in the 3rd quarter valued at approximately $206,000. Finally, California Public Employees Retirement System purchased a new position in FCB Financial in the 4th quarter valued at approximately $262,000. 92.87% of the stock is 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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