The Manufacturers Life Insurance Company reduced its position in FCB Financial Holdings Inc (NYSE:FCB) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 730,180 shares of the bank’s stock after selling 49,033 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in FCB Financial were worth $37,093,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC purchased a new position in FCB Financial during the third quarter valued at approximately $146,000. Ameritas Investment Partners Inc. grew its position in FCB Financial by 19.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the bank’s stock valued at $148,000 after purchasing an additional 504 shares in the last quarter. Truepoint Inc. grew its position in FCB Financial by 316.8% during the fourth quarter. Truepoint Inc. now owns 3,947 shares of the bank’s stock valued at $201,000 after purchasing an additional 3,000 shares in the last quarter. Bartlett & Co. LLC purchased a new position in FCB Financial during the third quarter valued at approximately $201,000. Finally, Brown Advisory Inc. purchased a new position in FCB Financial during the third quarter valued at approximately $206,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.
FCB Financial Holdings Inc (FCB) opened at $55.00 on Wednesday. FCB Financial Holdings Inc has a 1 year low of $39.90 and a 1 year high of $57.20. The company has a market cap of $2,474.80, a P/E ratio of 20.15, a P/E/G ratio of 0.82 and a beta of 1.34. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.76.
FCB Financial (NYSE:FCB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company had revenue of $85.85 million during the quarter, compared to the consensus estimate of $88.53 million. FCB Financial had a net margin of 5.43% and a return on equity of 1.60%. During the same period in the previous year, the firm posted $0.62 earnings per share. equities analysts anticipate that FCB Financial Holdings Inc will post 3.62 EPS for the current fiscal year.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, January 11th. Bank of America boosted their price objective 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. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of FCB Financial in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.20.
In other FCB Financial news, insider Stuart I. Oran sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $54.53, for a total value of $272,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic V. Salerno sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $48.48, for a total transaction of $969,600.00. Following the completion of the sale, the director now directly owns 24,200 shares of the company’s stock, valued at $1,173,216. The disclosure for this sale can be found here. Insiders sold 860,672 shares of company stock valued at $45,566,282 over the last three months. Insiders own 15.40% of the company’s stock.
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FCB Financial 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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