FCB Financial Holdings Inc. (FCB) Now Covered by Raymond James Financial Inc.
Equities researchers at Raymond James Financial Inc. initiated coverage on shares of FCB Financial Holdings Inc. (NYSE:FCB) in a note issued to investors on Wednesday. The firm set a “mkt perform” rating on the stock.
A number of other research firms have also recently weighed in on FCB. TheStreet upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Hovde Group cut FCB Financial Holdings from an “outperform” rating to a “market perform” rating in a research report on Monday, November 14th. Zacks Investment Research cut FCB Financial Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Deutsche Bank AG lifted their target price on FCB Financial Holdings from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Citigroup Inc. initiated coverage on FCB Financial Holdings in a research report on Wednesday. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.50.
FCB Financial Holdings (NYSE:FCB) traded up 1.61% during trading on Wednesday, reaching $44.25. The company had a trading volume of 432,082 shares. The firm has a 50-day moving average of $38.68 and a 200-day moving average of $37.03. FCB Financial Holdings has a 1-year low of $28.64 and a 1-year high of $44.35. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.86 and a beta of 1.25.
FCB Financial Holdings (NYSE:FCB) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. FCB Financial Holdings had a return on equity of 10.41% and a net margin of 30.45%. The company had revenue of $75.40 million for the quarter, compared to analysts’ expectations of $48.24 million. During the same period last year, the firm earned $0.48 earnings per share. FCB Financial Holdings’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts anticipate that FCB Financial Holdings will post $2.28 EPS for the current fiscal year.
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In related news, insider Stuart I. Oran sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $42.29, for a total transaction of $845,800.00. Following the transaction, the insider now owns 25,104 shares of the company’s stock, valued at $1,061,648.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stuart I. Oran sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $36.81, for a total value of $147,240.00. Following the transaction, the insider now directly owns 9,104 shares in the company, valued at approximately $335,118.24. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Oak Hill Advisors LP raised its position in FCB Financial Holdings by 152.2% in the third quarter. Oak Hill Advisors LP now owns 2,744,824 shares of the company’s stock worth $105,483,000 after buying an additional 1,656,423 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of FCB Financial Holdings by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,104,242 shares of the company’s stock worth $71,544,000 after buying an additional 15,730 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of FCB Financial Holdings by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 1,811,685 shares of the company’s stock worth $69,623,000 after buying an additional 47,691 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of FCB Financial Holdings by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 1,107,057 shares of the company’s stock worth $42,544,000 after buying an additional 12,862 shares in the last quarter. Finally, Boston Partners raised its stake in shares of FCB Financial Holdings by 185.9% in the third quarter. Boston Partners now owns 876,431 shares of the company’s stock worth $33,681,000 after buying an additional 569,858 shares in the last quarter. 94.25% of the stock is currently owned by hedge funds and other institutional investors.
About FCB Financial Holdings
FCB Financial Holdings, Inc is a bank holding company with one 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. The Company provides a range of financial products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through approximately 50 branches in south and central Florida.
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