FCB Financial Holdings Inc (FCB) Position Reduced by Employees Retirement System of Texas
Employees Retirement System of Texas cut its holdings in FCB Financial Holdings Inc (NYSE:FCB) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,000 shares of the bank’s stock after selling 17,000 shares during the period. Employees Retirement System of Texas’ holdings in FCB Financial were worth $4,724,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC acquired a new position in FCB Financial in the third quarter valued at approximately $146,000. Ameritas Investment Partners Inc. lifted its holdings in FCB Financial by 19.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the bank’s stock valued at $148,000 after acquiring an additional 504 shares during the last quarter. Truepoint Inc. lifted its holdings in FCB Financial by 316.8% in the fourth quarter. Truepoint Inc. now owns 3,947 shares of the bank’s stock valued at $201,000 after acquiring an additional 3,000 shares during the last quarter. Brown Advisory Inc. acquired a new position in FCB Financial in the third quarter valued at approximately $206,000. Finally, California Public Employees Retirement System acquired a new position in FCB Financial in the fourth quarter valued at approximately $262,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.
In other news, insider Stuart I. Oran sold 37,744 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $52.83, for a total transaction of $1,994,015.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Vincent Tese sold 219,554 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $52.85, for a total value of $11,603,428.90. Following the sale, the chairman now directly owns 393,818 shares in the company, valued at approximately $20,813,281.30. The disclosure for this sale can be found here. Insiders have sold 866,089 shares of company stock worth $45,866,546 in the last ninety days. Corporate insiders own 15.40% of the company’s stock.
FCB Financial (NYSE:FCB) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $85.85 million for the quarter, compared to analyst estimates of $88.53 million. FCB Financial had a return on equity of 11.82% and a net margin of 30.60%. During the same quarter in the previous year, the company earned $0.62 earnings per share. equities research analysts expect that FCB Financial Holdings Inc will post 3.62 EPS for the current year.
A number of research analysts recently commented on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $61.00 price objective on shares of FCB Financial in a report on Wednesday, January 24th. Bank of America boosted their target price on FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.20.
FCB Financial 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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