Swiss National Bank Raises Position in FCB Financial Holdings, Inc. (FCB)
Swiss National Bank boosted its stake in shares of FCB Financial Holdings, Inc. (NYSE:FCB) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,300 shares of the bank’s stock after buying an additional 1,400 shares during the period. Swiss National Bank owned about 0.14% of FCB Financial Holdings worth $2,839,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in FCB Financial Holdings by 641.3% in the fourth quarter. Renaissance Technologies LLC now owns 446,252 shares of the bank’s stock valued at $21,286,000 after buying an additional 386,052 shares during the last quarter. State Street Corp increased its stake in FCB Financial Holdings by 72.0% in the fourth quarter. State Street Corp now owns 864,511 shares of the bank’s stock valued at $41,233,000 after buying an additional 361,838 shares during the last quarter. Numeric Investors LLC purchased a new stake in FCB Financial Holdings during the fourth quarter valued at $14,821,000. Teachers Advisors LLC increased its stake in FCB Financial Holdings by 298.6% in the fourth quarter. Teachers Advisors LLC now owns 274,094 shares of the bank’s stock valued at $13,074,000 after buying an additional 205,335 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in FCB Financial Holdings by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 984,917 shares of the bank’s stock valued at $46,981,000 after buying an additional 175,646 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.
Shares of FCB Financial Holdings, Inc. (NYSE:FCB) opened at 47.05 on Friday. The firm’s 50-day moving average price is $46.98 and its 200 day moving average price is $47.41. FCB Financial Holdings, Inc. has a 1-year low of $31.98 and a 1-year high of $50.33. The stock has a market capitalization of $2.01 billion, a P/E ratio of 17.69 and a beta of 1.32.
FCB Financial Holdings (NYSE:FCB) last posted its quarterly earnings results on Thursday, April 20th. The bank reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.44 million. FCB Financial Holdings had a return on equity of 10.81% and a net margin of 32.07%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Analysts expect that FCB Financial Holdings, Inc. will post $2.65 EPS for the current fiscal year.
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Several analysts have recently weighed in on FCB shares. Deutsche Bank AG reissued a “buy” rating and issued a $57.00 target price (up from $56.00) on shares of FCB Financial Holdings in a report on Sunday, April 23rd. Zacks Investment Research downgraded FCB Financial Holdings from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $52.00 target price on shares of FCB Financial Holdings in a report on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $50.75.
In other FCB Financial Holdings news, insider Stuart I. Oran sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $49.52, for a total value of $148,560.00. Following the transaction, the insider now owns 10,104 shares of the company’s stock, valued at $500,350.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas E. Constance sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $48.20, for a total transaction of $241,000.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $337,400. The disclosure for this sale can be found here. Insiders sold 620,498 shares of company stock valued at $29,637,276 over the last quarter. Insiders own 15.40% of the company’s stock.
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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