FCB Financial (FCB) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of FCB Financial (NYSE:FCB) from a hold rating to a buy rating in a research report sent to investors on Saturday.
A number of other research analysts have also recently commented on FCB. Zacks Investment Research raised shares of FCB Financial from a hold rating to a buy rating and set a $59.00 target price on the stock in a research report on Tuesday, December 26th. Bank of America upped their target price on shares of FCB Financial from $60.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a buy rating and issued a $61.00 target price on shares of FCB Financial in a research report on Wednesday, January 24th. Finally, UBS initiated coverage on shares of FCB Financial in a research report on Wednesday, March 21st. They set a sell rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $57.33.
NYSE FCB opened at $58.10 on Friday. FCB Financial has a 12 month low of $39.90 and a 12 month high of $58.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $2,598.46, a price-to-earnings ratio of 20.39, a P/E/G ratio of 0.89 and a beta of 1.34.
In related news, Director Gerald Luterman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $54.74, for a total transaction of $273,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederic V. Salerno sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.98, for a total transaction of $1,649,400.00. Following the sale, the director now owns 34,200 shares in the company, valued at $1,880,316. The disclosure for this sale can be found here. Insiders have sold 306,464 shares of company stock worth $17,217,391 in the last three months. Corporate insiders own 9.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky increased its stake in shares of FCB Financial by 4.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 24,167 shares of the bank’s stock worth $1,228,000 after buying an additional 962 shares during the period. Whittier Trust Co. increased its stake in shares of FCB Financial by 2.1% during the fourth quarter. Whittier Trust Co. now owns 52,186 shares of the bank’s stock worth $2,651,000 after buying an additional 1,071 shares during the period. US Bancorp DE increased its stake in shares of FCB Financial by 3.8% during the fourth quarter. US Bancorp DE now owns 29,841 shares of the bank’s stock worth $1,516,000 after buying an additional 1,094 shares during the period. Gabelli Funds LLC increased its stake in shares of FCB Financial by 2.4% during the fourth quarter. Gabelli Funds LLC now owns 99,100 shares of the bank’s stock worth $5,034,000 after buying an additional 2,300 shares during the period. Finally, Swiss National Bank increased its stake in shares of FCB Financial by 3.4% during the fourth quarter. Swiss National Bank now owns 70,100 shares of the bank’s stock worth $3,561,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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