FCB Financial Holdings, Inc. (FCB) Given Buy Rating at Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of FCB Financial Holdings, Inc. (NYSE:FCB) in a research report released on Friday morning. The brokerage currently has a $54.00 target price on the bank’s stock.
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of FCB Financial Holdings from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of FCB Financial Holdings from a buy rating to a hold rating in a report on Monday, July 31st. ValuEngine raised shares of FCB Financial Holdings from a hold rating to a buy rating in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $51.00 target price on shares of FCB Financial Holdings in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $53.40.
Shares of FCB Financial Holdings (NYSE FCB) traded up 2.09% during mid-day trading on Friday, reaching $41.45. 254,201 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $44.87 and a 200-day moving average price of $47.03. The stock has a market cap of $1.80 billion, a PE ratio of 14.45 and a beta of 1.31. FCB Financial Holdings has a 12 month low of $35.55 and a 12 month high of $50.33.
FCB Financial Holdings (NYSE:FCB) last released its earnings results on Tuesday, July 25th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. FCB Financial Holdings had a net margin of 33.95% and a return on equity of 11.11%. The firm had revenue of $83 million for the quarter, compared to analyst estimates of $83.47 million. During the same period last year, the firm earned $0.56 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that FCB Financial Holdings will post $2.80 earnings per share for the current fiscal year.
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In related news, CEO Kent S. Ellert sold 20,160 shares of FCB Financial Holdings stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.19, for a total transaction of $951,350.40. Following the sale, the chief executive officer now directly owns 150,366 shares of the company’s stock, valued at approximately $7,095,771.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan S. Bernikow sold 5,870 shares of FCB Financial Holdings stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $49.00, for a total transaction of $287,630.00. Following the sale, the director now directly owns 10,070 shares in the company, valued at $493,430. The disclosure for this sale can be found here. Insiders have sold a total of 722,871 shares of company stock worth $33,237,263 over the last ninety days. 15.40% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in shares of FCB Financial Holdings during the 2nd quarter valued at approximately $109,000. Oppenheimer Asset Management Inc. bought a new stake in shares of FCB Financial Holdings during the 1st quarter valued at approximately $117,000. Ameritas Investment Partners Inc. bought a new stake in shares of FCB Financial Holdings during the 1st quarter valued at approximately $128,000. SG Americas Securities LLC grew its holdings in shares of FCB Financial Holdings by 23.6% during the 1st quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after purchasing an additional 649 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of FCB Financial Holdings by 16.7% during the 1st quarter. Victory Capital Management Inc. now owns 3,453 shares of the bank’s stock valued at $171,000 after purchasing an additional 494 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors.
FCB Financial Holdings 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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