FCB Financial (NYSE:FCB) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
Several other brokerages have also recently issued reports on FCB. 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 note on Wednesday, January 24th. Zacks Investment Research raised shares of FCB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Royal Bank of Canada reissued a “buy” rating and issued a $61.00 price objective on shares of FCB Financial in a research note on Wednesday, January 24th. Finally, UBS started coverage on shares of FCB Financial in a research note on Wednesday, March 21st. They set a “sell” rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $57.33.
Shares of FCB opened at $58.10 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2,598.46, a price-to-earnings ratio of 17.71, a PEG ratio of 0.89 and a beta of 1.34. FCB Financial has a 1 year low of $39.90 and a 1 year high of $58.15.
FCB Financial (NYSE:FCB) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company 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 previous year, the company posted $0.62 EPS. equities research analysts expect that FCB Financial will post 3.62 EPS for the current year.
In other news, insider Les J. Lieberman sold 147,159 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $57.25, for a total transaction of $8,424,852.75. Following the transaction, the insider now directly owns 315,356 shares of the company’s stock, valued at approximately $18,054,131. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederic V. Salerno sold 30,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $54.98, for a total transaction of $1,649,400.00. Following the transaction, the director now directly owns 34,200 shares in the company, valued at $1,880,316. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,464 shares of company stock worth $17,217,391. Corporate insiders own 9.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of 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 purchasing an additional 962 shares during the period. Whittier Trust Co. grew its stake 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 worth $2,651,000 after purchasing an additional 1,071 shares during the period. US Bancorp DE boosted its position in shares of FCB Financial by 3.8% in the 4th quarter. US Bancorp DE now owns 29,841 shares of the bank’s stock worth $1,516,000 after buying an additional 1,094 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of FCB Financial by 2.4% in the 4th quarter. Gabelli Funds LLC now owns 99,100 shares of the bank’s stock worth $5,034,000 after buying an additional 2,300 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of FCB Financial by 3.4% in the 4th quarter. Swiss National Bank now owns 70,100 shares of the bank’s stock worth $3,561,000 after buying an additional 2,300 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
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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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