FCB Financial Holdings, Inc. (NYSE:FCB) Cut to Hold at ValuEngine

ValuEngine lowered shares of FCB Financial Holdings, Inc. (NYSE:FCB) from a buy rating to a hold rating in a research note issued to investors on Friday, September 1st.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded FCB Financial Holdings from a hold rating to a sell rating in a research report on Wednesday, June 21st. BidaskClub downgraded FCB Financial Holdings from a buy rating to a hold rating in a research report on Saturday, June 24th. Royal Bank Of Canada started coverage on FCB Financial Holdings in a research report on Monday, July 17th. They issued an outperform rating and a $56.00 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $51.00 target price on shares of FCB Financial Holdings in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. FCB Financial Holdings has an average rating of Hold and an average target price of $53.40.

Shares of FCB Financial Holdings (FCB) opened at 43.75 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 15.25 and a beta of 1.31. FCB Financial Holdings has a 1-year low of $35.55 and a 1-year high of $50.33. The firm has a 50-day moving average of $44.33 and a 200 day moving average of $46.82.

FCB Financial Holdings (NYSE:FCB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The firm had revenue of $83.00 million for the quarter, compared to analyst estimates of $83.47 million. FCB Financial Holdings had a net margin of 33.95% and a return on equity of 11.11%. FCB Financial Holdings’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. Analysts predict that FCB Financial Holdings will post $2.80 EPS for the current year.

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In other news, Vice Chairman Les J. Lieberman sold 10,454 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $47.10, for a total transaction of $492,383.40. Following the completion of the sale, the insider now owns 310,599 shares in the company, valued at $14,629,212.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Novelly sold 1,813 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $43.98, for a total value of $79,735.74. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $87,960. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,167 shares of company stock valued at $34,319,679. 15.40% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in FCB Financial Holdings in the second quarter worth $109,000. Oppenheimer Asset Management Inc. purchased a new position in FCB Financial Holdings in the first quarter worth $117,000. Ameritas Investment Partners Inc. purchased a new position in FCB Financial Holdings in the first quarter worth $128,000. M&R Capital Management Inc. raised its position in FCB Financial Holdings by 600.0% in the second quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock worth $152,000 after acquiring an additional 3,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in FCB Financial Holdings by 23.6% in the first quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock worth $168,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

FCB Financial Holdings 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FCB Financial Holdings (NYSE:FCB)

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