FCB Financial Holdings, Inc. (FCB) Short Interest Update
FCB Financial Holdings, Inc. (NYSE:FCB) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 791,911 shares, a decrease of 45.5% from the July 31st total of 1,454,011 shares. Based on an average trading volume of 236,700 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.9% of the shares of the stock are sold short.
FCB Financial Holdings (FCB) opened at 43.65 on Monday. The company has a 50-day moving average price of $45.62 and a 200 day moving average price of $47.24. FCB Financial Holdings has a 12 month low of $35.55 and a 12 month high of $50.33. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.21 and a beta of 1.31.
FCB Financial Holdings (NYSE:FCB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. The firm had revenue of $83 million during the quarter, compared to the consensus estimate of $83.47 million. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. Equities analysts predict that FCB Financial Holdings will post $2.80 earnings per share for the current year.
In related news, Director Paul A. Novelly sold 12,080 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $43.32, for a total value of $523,305.60. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $86,640. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul A. Novelly sold 25,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $42.99, for a total value of $1,074,750.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $85,980. The disclosure for this sale can be found here. Insiders have sold 738,865 shares of company stock valued at $34,168,472 in the last three months. Insiders own 15.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new position in FCB Financial Holdings in the 2nd quarter valued at $109,000. Oppenheimer Asset Management Inc. acquired a new position in FCB Financial Holdings in the 1st quarter valued at $117,000. Ameritas Investment Partners Inc. acquired a new position in FCB Financial Holdings in the 1st quarter valued at $128,000. SG Americas Securities LLC raised its holdings in FCB Financial Holdings by 23.6% in the 1st quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after acquiring an additional 649 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in FCB Financial Holdings by 16.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,453 shares of the bank’s stock valued at $171,000 after acquiring an additional 494 shares during the last quarter. Institutional investors own 93.76% of the company’s stock.
Several research firms recently commented on FCB. BidaskClub cut FCB Financial Holdings from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut FCB Financial Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine raised FCB Financial Holdings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada began coverage on FCB Financial Holdings in a report on Monday, July 17th. They issued an “outperform” rating and a $56.00 price target for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 price target on shares of FCB Financial Holdings in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.80.
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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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