Piermont Capital Management Inc. purchased a new stake in shares of FCB Financial Holdings, Inc. (NYSE:FCB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 37,104 shares of the bank’s stock, valued at approximately $1,772,000. Piermont Capital Management Inc. owned about 0.09% of FCB Financial Holdings as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCB. BlackRock Inc. increased its position in shares of FCB Financial Holdings by 11,599.9% during the 1st quarter. BlackRock Inc. now owns 2,251,886 shares of the bank’s stock valued at $111,582,000 after purchasing an additional 2,232,639 shares during the last quarter. Wellington Management Group LLP increased its position in shares of FCB Financial Holdings by 66.6% during the 1st quarter. Wellington Management Group LLP now owns 1,606,383 shares of the bank’s stock valued at $79,596,000 after purchasing an additional 641,937 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of FCB Financial Holdings by 34.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,672,170 shares of the bank’s stock valued at $82,857,000 after purchasing an additional 425,549 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of FCB Financial Holdings during the 2nd quarter valued at about $17,499,000. Finally, TimesSquare Capital Management LLC increased its position in shares of FCB Financial Holdings by 217.4% during the 2nd quarter. TimesSquare Capital Management LLC now owns 532,600 shares of the bank’s stock valued at $25,432,000 after purchasing an additional 364,800 shares during the last quarter. 94.00% of the stock is owned by hedge funds and other institutional investors.

FCB Financial Holdings, Inc. (FCB) traded up 0.11% during midday trading on Friday, reaching $46.00. 194,597 shares of the company traded hands. The firm has a 50-day moving average of $44.17 and a 200-day moving average of $46.73. The stock has a market capitalization of $1.99 billion, a P/E ratio of 16.03 and a beta of 1.31. FCB Financial Holdings, Inc. has a 1-year low of $35.55 and a 1-year high of $50.33.

FCB Financial Holdings (NYSE:FCB) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.47 million. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. FCB Financial Holdings’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. On average, analysts predict that FCB Financial Holdings, Inc. will post $2.76 earnings per share for the current year.

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 stock was sold at an average price of $47.19, for a total transaction of $951,350.40. Following the completion of the transaction, the chief executive officer now directly owns 150,366 shares in the company, valued at $7,095,771.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stuart I. Oran sold 3,000 shares of FCB Financial Holdings stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $46.54, for a total value of $139,620.00. Following the transaction, the insider now owns 10,104 shares of the company’s stock, valued at $470,240.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 787,398 shares of company stock valued at $36,032,021. 15.40% of the stock is owned by company insiders.

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Several research firms have recently commented on FCB. BidaskClub lowered shares of FCB Financial Holdings from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of FCB Financial Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine raised shares of FCB Financial Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $54.00 price target on shares of FCB Financial Holdings in a research report on Friday, September 8th. 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 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. The stock currently has a consensus rating of “Hold” and an average price target of $53.40.

FCB Financial Holdings 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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Institutional Ownership by Quarter for FCB Financial Holdings (NYSE:FCB)

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