TIAA CREF Investment Management LLC grew its position in FCB Financial Holdings Inc (NYSE:FCB) by 46.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 193,667 shares of the bank’s stock after purchasing an additional 61,784 shares during the period. TIAA CREF Investment Management LLC’s holdings in FCB Financial were worth $9,838,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of FCB Financial by 39.2% in the fourth quarter. First Trust Advisors LP now owns 100,864 shares of the bank’s stock valued at $5,124,000 after acquiring an additional 28,384 shares during the period. Swiss National Bank raised its stake in shares of 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. Bank of New York Mellon Corp raised its stake in shares of FCB Financial by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,232,159 shares of the bank’s stock valued at $62,594,000 after acquiring an additional 38,230 shares during the period. US Bancorp DE raised its stake in shares of 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. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of FCB Financial by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 184,184 shares of the bank’s stock valued at $9,357,000 after acquiring an additional 8,452 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.
NYSE FCB opened at $50.95 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $2,278.69, a PE ratio of 17.88, a P/E/G ratio of 0.78 and a beta of 1.34. FCB Financial Holdings Inc has a 12 month low of $39.90 and a 12 month high of $57.90.
FCB Financial (NYSE:FCB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $85.85 million for the quarter, compared to analysts’ expectations of $88.53 million. FCB Financial had a net margin of 30.60% and a return on equity of 11.64%. During the same period in the prior year, the business posted $0.62 earnings per share. equities research analysts anticipate that FCB Financial Holdings Inc will post 3.61 earnings per share for the current year.
In other FCB Financial news, Director Gerald Luterman sold 5,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $54.74, for a total transaction of $273,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Les J. Lieberman sold 147,159 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $57.25, for a total transaction of $8,424,852.75. Following the transaction, the insider now owns 315,356 shares in the company, valued at $18,054,131. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 451,450 shares of company stock worth $25,084,196. Company insiders own 15.40% of the company’s stock.
FCB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of FCB Financial from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, December 26th. Bank of America increased their target price on shares of FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “buy” rating and issued a $61.00 price target on shares of FCB Financial in a report on Wednesday, January 24th. Finally, UBS began coverage on shares of FCB Financial in a report on Wednesday, March 21st. They issued a “sell” rating and a $48.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.33.
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About FCB Financial
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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