Metropolitan Life Insurance Co. NY reduced its holdings in shares of FCB Financial Holdings Inc (NYSE:FCB) by 52.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,560 shares of the bank’s stock after selling 12,506 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in FCB Financial were worth $587,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Macquarie Group Ltd. grew its holdings in FCB Financial by 5.2% during the 4th quarter. Macquarie Group Ltd. now owns 533,377 shares of the bank’s stock worth $27,096,000 after acquiring an additional 26,485 shares during the period. TIAA CREF Investment Management LLC grew its holdings in FCB Financial by 46.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 193,667 shares of the bank’s stock worth $9,838,000 after acquiring an additional 61,784 shares during the period. Teachers Advisors LLC grew its holdings in FCB Financial by 1.4% during the 4th quarter. Teachers Advisors LLC now owns 342,940 shares of the bank’s stock worth $17,421,000 after acquiring an additional 4,688 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in FCB Financial by 4.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 24,167 shares of the bank’s stock worth $1,228,000 after acquiring an additional 962 shares during the period. Finally, Deutsche Bank AG grew its holdings in FCB Financial by 28.8% during the 4th quarter. Deutsche Bank AG now owns 226,353 shares of the bank’s stock worth $11,496,000 after acquiring an additional 50,570 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Shares of FCB opened at $52.60 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $2,278.68, a PE ratio of 16.04, a PEG ratio of 0.78 and a beta of 1.34. FCB Financial Holdings Inc has a one year low of $39.90 and a one year high of $57.90.
FCB Financial (NYSE:FCB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.76 EPS for the quarter, beating 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 return on equity of 11.64% and a net margin of 30.60%. During the same period last year, the business posted $0.62 EPS. sell-side analysts forecast that FCB Financial Holdings Inc will post 3.61 earnings per share for the current fiscal year.
A number of brokerages have weighed in on FCB. Zacks Investment Research upgraded FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Thursday, January 11th. UBS began coverage on FCB Financial in a report on Wednesday, March 21st. They set a “sell” rating and a $48.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price target on shares of FCB Financial in a report on Wednesday, January 24th. Finally, Bank of America increased their price target on FCB Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Two equities research 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 an average rating of “Hold” and an average target price of $57.33.
In other news, CEO Kent S. Ellert sold 18,499 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $55.36, for a total value of $1,024,104.64. Following the completion of the sale, the chief executive officer now directly owns 232,689 shares in the company, valued at approximately $12,881,663.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kent S. Ellert sold 32,301 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $55.16, for a total value of $1,781,723.16. Following the completion of the sale, the chief executive officer now owns 228,828 shares of the company’s stock, valued at $12,622,152.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 382,215 shares of company stock valued at $21,405,788. 15.40% of the stock is currently owned by company insiders.
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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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