FCB Financial Holdings, Inc. (FCB) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of FCB Financial Holdings, Inc. (NYSE:FCB) from a sell rating to a hold rating in a research report 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 research analysts have also recently commented on FCB. Keefe, Bruyette & Woods reissued a hold rating and issued a $51.00 price objective on shares of FCB Financial Holdings in a research note on Tuesday, October 3rd. BidaskClub cut FCB Financial Holdings from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a buy rating and issued a $54.00 price objective on shares of FCB Financial Holdings in a research note on Friday, September 8th. Finally, ValuEngine raised FCB Financial Holdings from a hold rating to a buy rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. FCB Financial Holdings currently has an average rating of Hold and a consensus price target of $53.40.

FCB Financial Holdings (NYSE:FCB) opened at 48.85 on Monday. The company has a 50 day moving average price of $45.02 and a 200 day moving average price of $46.64. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.03 and a beta of 1.33. FCB Financial Holdings has a 12 month low of $35.55 and a 12 month high of $50.33.

FCB Financial Holdings (NYSE:FCB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The firm had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $83.47 million. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts anticipate that FCB Financial Holdings will post $2.76 earnings per share for the current fiscal year.

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In related news, CEO Kent S. Ellert sold 20,160 shares of FCB Financial Holdings stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.19, for a total transaction of $951,350.40. Following the transaction, the chief executive officer now owns 150,366 shares of the company’s stock, valued at $7,095,771.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stuart I. Oran sold 15,151 shares of FCB Financial Holdings stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $41.45, for a total value of $628,008.95. Following the transaction, the insider now directly owns 12,255 shares in the company, valued at approximately $507,969.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 884,518 shares of company stock worth $40,650,900. 15.40% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in FCB. Tower Research Capital LLC TRC purchased a new position in shares of FCB Financial Holdings during the second quarter valued at approximately $109,000. Oppenheimer Asset Management Inc. purchased a new position in shares of FCB Financial Holdings during the first quarter valued at approximately $117,000. Ameritas Investment Partners Inc. purchased a new position in shares of FCB Financial Holdings during the first quarter valued at approximately $128,000. M&R Capital Management Inc. boosted its position in shares of FCB Financial Holdings by 600.0% during the second quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock valued at $152,000 after buying an additional 3,000 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of FCB Financial Holdings by 23.6% during the first quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after buying an additional 649 shares during the last quarter. 94.00% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for FCB Financial Holdings (NYSE:FCB)

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