FCB Financial Holdings Inc (NYSE:FCB) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,175,943 shares, a growth of 55.9% from the January 12th total of 754,232 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 205,789 shares, the short-interest ratio is presently 5.7 days.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of FCB Financial from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, December 26th. Royal Bank of Canada restated a “buy” rating and set a $54.00 target price on shares of FCB Financial in a report on Wednesday, October 25th. Finally, Bank of America boosted their target price on shares of FCB Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FCB Financial currently has a consensus rating of “Buy” and an average price target of $59.20.
In other news, Chairman Vincent Tese sold 219,554 shares of FCB Financial stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $52.85, for a total value of $11,603,428.90. Following the sale, the chairman now directly owns 393,818 shares in the company, valued at $20,813,281.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Constance sold 1,641 shares of FCB Financial stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $49.00, for a total transaction of $80,409.00. Following the completion of the sale, the director now owns 3,641 shares in the company, valued at $178,409. The disclosure for this sale can be found here. Insiders sold 868,455 shares of company stock worth $45,907,185 over the last quarter. 15.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in FCB. BlackRock Inc. increased its holdings in shares of FCB Financial by 6.8% in the second quarter. BlackRock Inc. now owns 2,405,513 shares of the bank’s stock valued at $114,862,000 after purchasing an additional 153,627 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of FCB Financial by 9.3% in the second quarter. UBS Asset Management Americas Inc. now owns 22,221 shares of the bank’s stock valued at $1,061,000 after purchasing an additional 1,899 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FCB Financial by 9.3% in the second quarter. Vanguard Group Inc. now owns 3,089,371 shares of the bank’s stock valued at $147,518,000 after purchasing an additional 262,969 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of FCB Financial by 40.8% in the second quarter. Voya Investment Management LLC now owns 16,236 shares of the bank’s stock valued at $775,000 after purchasing an additional 4,706 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of FCB Financial by 16.9% in the second quarter. Goldman Sachs Group Inc. now owns 193,500 shares of the bank’s stock valued at $9,240,000 after purchasing an additional 27,997 shares during the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.
FCB Financial (NYSE:FCB) opened at $55.20 on Thursday. FCB Financial has a fifty-two week low of $39.90 and a fifty-two week high of $57.20. The company has a market cap of $2,381.24, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.93.
FCB Financial (NYSE:FCB) last released its quarterly earnings data 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. FCB Financial had a net margin of 30.60% and a return on equity of 11.82%. The firm had revenue of $85.85 million for the quarter, compared to the consensus estimate of $88.53 million. During the same period in the previous year, the company earned $0.62 earnings per share. equities research analysts predict that FCB Financial will post 3.62 EPS for the current year.
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FCB Financial 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.
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