Keefe, Bruyette & Woods Reiterates “Hold” Rating for FCB Financial Holdings, Inc. (FCB)
FCB Financial Holdings, Inc. (NYSE:FCB)‘s stock had its “hold” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday. They currently have a $51.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 5.70% from the stock’s current price.
Several other brokerages also recently weighed in on FCB. Royal Bank Of Canada started coverage on FCB Financial Holdings in a research note on Monday, July 17th. They set an “outperform” rating and a $56.00 target price on the stock. Zacks Investment Research upgraded FCB Financial Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub downgraded FCB Financial Holdings from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, ValuEngine downgraded FCB Financial Holdings from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. FCB Financial Holdings currently has a consensus rating of “Hold” and an average price target of $53.40.
Shares of FCB Financial Holdings (NYSE:FCB) opened at 48.25 on Tuesday. FCB Financial Holdings has a 52-week low of $35.55 and a 52-week high of $50.33. The company’s 50 day moving average price is $44.58 and its 200 day moving average price is $46.61. The stock has a market capitalization of $2.09 billion, a PE ratio of 16.82 and a beta of 1.34.
FCB Financial Holdings (NYSE:FCB) last announced its earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The firm had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.47 million. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that FCB Financial Holdings will post $2.76 EPS for the current year.
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In other FCB Financial Holdings news, CEO Kent S. Ellert sold 20,160 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $47.19, for a total transaction of $951,350.40. Following the sale, the chief executive officer now owns 150,366 shares in the company, valued at approximately $7,095,771.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Vincent Tese sold 10,487 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $47.10, for a total value of $493,937.70. Following the sale, the chairman now owns 400,717 shares in the company, valued at approximately $18,873,770.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 883,716 shares of company stock worth $40,609,188. Company insiders own 15.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FCB. Tower Research Capital LLC TRC purchased a new stake in FCB Financial Holdings during the 2nd quarter valued at about $109,000. Oppenheimer Asset Management Inc. purchased a new stake in FCB Financial Holdings during the 1st quarter valued at about $117,000. Ameritas Investment Partners Inc. purchased a new stake in FCB Financial Holdings during the 1st quarter valued at about $128,000. M&R Capital Management Inc. grew its stake in FCB Financial Holdings by 600.0% during the 2nd quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in FCB Financial Holdings by 23.6% during the 1st quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after purchasing an additional 649 shares during the last quarter. Institutional investors and hedge funds own 94.00% 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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