Zacks Investment Research downgraded shares of FCB Financial (NYSE:FCB) from a hold rating to a sell rating in a report released on Tuesday, March 13th.
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 equities research analysts also recently weighed in on the company. Bank of America lifted their target price on FCB Financial from $60.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Royal Bank of Canada reiterated a buy rating and issued a $61.00 target price on shares of FCB Financial in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $59.20.
Shares of FCB Financial stock traded down $0.15 on Tuesday, hitting $55.85. The stock had a trading volume of 111,084 shares, compared to its average volume of 200,783. FCB Financial has a 52 week low of $39.90 and a 52 week high of $57.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2,509.00, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.32.
FCB Financial (NYSE:FCB) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 11.64% and a net margin of 30.60%. During the same period last year, the company earned $0.62 earnings per share. research analysts predict that FCB Financial will post 3.59 EPS for the current fiscal year.
In other FCB Financial news, Vice Chairman Les J. Lieberman sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $51.74, for a total value of $383,238.18. Following the completion of the sale, the insider now owns 305,605 shares of the company’s stock, valued at $15,812,002.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kent S. Ellert sold 13,318 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $51.80, for a total value of $689,872.40. Following the completion of the sale, the chief executive officer now directly owns 147,301 shares of the company’s stock, valued at approximately $7,630,191.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 635,595 shares of company stock valued at $34,573,096. 15.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Chicago Equity Partners LLC acquired a new stake in FCB Financial in the third quarter valued at approximately $626,000. US Bancorp DE grew its stake in FCB Financial by 3.8% in the fourth quarter. US Bancorp DE now owns 29,841 shares of the bank’s stock valued at $1,516,000 after acquiring an additional 1,094 shares during the period. Swiss National Bank grew its stake in FCB Financial by 3.4% in the fourth quarter. Swiss National Bank now owns 70,100 shares of the bank’s stock valued at $3,561,000 after acquiring an additional 2,300 shares during the period. Citadel Advisors LLC grew its stake in FCB Financial by 8.4% in the third quarter. Citadel Advisors LLC now owns 627,141 shares of the bank’s stock valued at $30,291,000 after acquiring an additional 48,695 shares during the period. Finally, Legal & General Group Plc grew its stake in FCB Financial by 29.5% in the third quarter. Legal & General Group Plc now owns 17,912 shares of the bank’s stock valued at $865,000 after acquiring an additional 4,075 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.
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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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