FCB Financial (NYSE:FCB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The firm presently has a $62.00 target price on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.01% from the stock’s previous close.
According to Zacks, “FCB Financial Holdings Inc. is a bank holding company for Florida Community Bank. The Company, through its subsidiaries, operates community banks in Florida, United States. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities. FCB Financial Holdings Inc. is headquartered in Weston, Florida. “
A number of other analysts have also issued reports on the company. Royal Bank of Canada reissued a “buy” rating and issued a $54.00 price target on shares of FCB Financial in a research note on Wednesday, October 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price target on shares of FCB Financial in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.20.
FCB Financial (NYSE FCB) traded up $1.50 on Thursday, hitting $55.35. The company had a trading volume of 230,500 shares, compared to its average volume of 258,524. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2,400.00, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.16 and a beta of 1.35. FCB Financial has a fifty-two week low of $39.90 and a fifty-two week high of $55.40.
FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $84.21 million for the quarter, compared to analyst estimates of $87.16 million. FCB Financial had a return on equity of 11.42% and a net margin of 34.09%. During the same quarter last year, the company earned $0.60 earnings per share. research analysts forecast that FCB Financial will post 2.84 earnings per share for the current fiscal year.
In other news, Vice Chairman Les J. Lieberman sold 7,407 shares of FCB Financial stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $51.74, for a total value of $383,238.18. Following the transaction, the insider now directly owns 305,605 shares of the company’s stock, valued at approximately $15,812,002.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas E. Constance sold 1,641 shares of FCB Financial stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $49.00, for a total value of $80,409.00. Following the completion of the transaction, the director now directly owns 3,641 shares in the company, valued at $178,409. The disclosure for this sale can be found here. Insiders sold a total of 725,526 shares of company stock worth $37,400,074 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Suntrust Banks Inc. raised its holdings in shares of FCB Financial by 1.6% during the 2nd quarter. Suntrust Banks Inc. now owns 8,937 shares of the bank’s stock valued at $426,000 after buying an additional 142 shares during the period. HighTower Advisors LLC raised its holdings in shares of FCB Financial by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 27,280 shares of the bank’s stock valued at $1,294,000 after buying an additional 227 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of FCB Financial by 19.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the bank’s stock valued at $148,000 after buying an additional 504 shares during the period. Victory Capital Management Inc. raised its holdings in shares of FCB Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,062 shares of the bank’s stock valued at $194,000 after buying an additional 609 shares during the period. Finally, Symphony Asset Management LLC raised its holdings in shares of FCB Financial by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 15,914 shares of the bank’s stock valued at $760,000 after buying an additional 613 shares during the period. Institutional investors and hedge funds own 93.72% 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.
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