Pinnacle Associates Ltd. Decreases Holdings in FCB Financial Holdings Inc (FCB)

Pinnacle Associates Ltd. trimmed its holdings in shares of FCB Financial Holdings Inc (NYSE:FCB) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 118,575 shares of the bank’s stock after selling 1,100 shares during the quarter. Pinnacle Associates Ltd.’s holdings in FCB Financial were worth $6,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in 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 acquiring an additional 504 shares during the period. Whittier Trust Co. increased its holdings in shares of FCB Financial by 2.1% during the 4th quarter. Whittier Trust Co. now owns 52,186 shares of the bank’s stock valued at $2,651,000 after purchasing an additional 1,071 shares in the last quarter. US Bancorp DE increased its holdings in shares of FCB Financial by 3.8% during the 4th quarter. US Bancorp DE now owns 29,841 shares of the bank’s stock valued at $1,516,000 after purchasing an additional 1,094 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of FCB Financial by 34.5% during the 3rd quarter. Victory Capital Management Inc. now owns 5,464 shares of the bank’s stock valued at $264,000 after purchasing an additional 1,402 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of FCB Financial by 8.1% during the 3rd quarter. American International Group Inc. now owns 23,610 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Several research firms have recently weighed in on FCB. Royal Bank of Canada reaffirmed a “buy” rating and set a $61.00 target price on shares of FCB Financial in a report on Wednesday, January 24th. Bank of America lifted their target price on shares of FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Thursday, January 11th. 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 given a strong buy rating to the company’s stock. FCB Financial presently has a consensus rating of “Buy” and an average price target of $59.20.

FCB Financial Holdings Inc (NYSE FCB) opened at $55.70 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $2,432.47, a P/E ratio of 20.40, a PEG ratio of 0.80 and a beta of 1.34. FCB Financial Holdings Inc has a 1-year low of $39.90 and a 1-year high of $57.20.

FCB Financial (NYSE:FCB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The firm had revenue of $85.85 million during the quarter, compared to analyst estimates of $88.53 million. FCB Financial had a net margin of 30.60% and a return on equity of 11.82%. During the same period in the previous year, the firm earned $0.62 EPS. sell-side analysts anticipate that FCB Financial Holdings Inc will post 3.62 earnings per share for the current year.

In related news, CEO Kent S. Ellert sold 16,206 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $50.48, for a total value of $818,078.88. Following the completion of the sale, the chief executive officer now owns 156,375 shares of the company’s stock, valued at approximately $7,893,810. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederic V. Salerno sold 20,000 shares of the business’s stock in a transaction 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 approximately $1,173,216. The disclosure for this sale can be found here. In the last three months, insiders sold 866,089 shares of company stock valued at $45,866,546. 15.40% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for FCB Financial (NYSE:FCB)

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