Zacks Investment Research upgraded shares of FCB Financial (NYSE:FCB) from a sell rating to a hold rating in a research note released on Monday.
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 analysts also recently issued reports on the stock. TheStreet downgraded shares of FCB Financial from a b- rating to a c+ rating in a report on Tuesday, November 20th. Keefe, Bruyette & Woods raised shares of FCB Financial from a market perform rating to an outperform rating and cut their price objective for the stock from $61.00 to $58.00 in a report on Thursday, November 8th. Finally, ValuEngine downgraded shares of FCB Financial from a sell rating to a strong sell rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $55.50.
Shares of FCB stock opened at $36.40 on Monday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.93. FCB Financial has a 12 month low of $35.44 and a 12 month high of $62.95.
FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.02. The firm had revenue of $101.40 million for the quarter, compared to the consensus estimate of $104.71 million. FCB Financial had a net margin of 29.45% and a return on equity of 13.02%. During the same period in the previous year, the firm earned $0.74 EPS. Analysts forecast that FCB Financial will post 3.67 EPS for the current year.
Several large investors have recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its holdings in shares of FCB Financial by 40.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 5,259 shares of the bank’s stock worth $249,000 after buying an additional 1,506 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of FCB Financial by 32.2% in the 2nd quarter. Amalgamated Bank now owns 6,381 shares of the bank’s stock worth $375,000 after buying an additional 1,553 shares during the last quarter. Summit Global Investments boosted its holdings in shares of FCB Financial by 14.7% in the 3rd quarter. Summit Global Investments now owns 12,500 shares of the bank’s stock worth $593,000 after buying an additional 1,600 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of FCB Financial by 16.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,750 shares of the bank’s stock worth $808,000 after buying an additional 1,929 shares during the last quarter. Finally, Meadow Creek Investment Management LLC purchased a new position in shares of FCB Financial in the 2nd quarter worth about $120,000. 89.10% of the stock is currently owned by institutional investors.
About FCB Financial
FCB Financial Holdings, Inc operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida. The company offers various deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificates of deposit; checking products; and money market accounts and IRAs.
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