Victory Capital Management Inc. increased its holdings in FCB Financial Holdings Inc (NYSE:FCB) by 5,419.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,592 shares of the bank’s stock after acquiring an additional 296,128 shares during the period. Victory Capital Management Inc. owned about 0.68% of FCB Financial worth $15,321,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in FCB Financial in the 2nd quarter worth about $502,000. UBS Asset Management Americas Inc. grew its position in FCB Financial by 9.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,221 shares of the bank’s stock worth $1,061,000 after purchasing an additional 1,899 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in FCB Financial in the 3rd quarter worth about $626,000. Voya Investment Management LLC grew its position in FCB Financial by 40.8% in the 2nd quarter. Voya Investment Management LLC now owns 16,236 shares of the bank’s stock worth $775,000 after purchasing an additional 4,706 shares in the last quarter. Finally, Emerald Advisers Inc. PA grew its position in FCB Financial by 6.7% in the 3rd quarter. Emerald Advisers Inc. PA now owns 677,903 shares of the bank’s stock worth $32,743,000 after purchasing an additional 42,390 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.
FCB has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of FCB Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, December 26th. Royal Bank of Canada reissued a “buy” rating and set a $54.00 target price on shares of FCB Financial in a research report on Wednesday, October 25th. Finally, Bank of America increased their target price on shares of FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. FCB Financial presently has an average rating of “Buy” and a consensus target price of $59.20.
In related news, Chairman Vincent Tese sold 219,554 shares of the firm’s 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 completion of the transaction, the chairman now directly owns 393,818 shares of the company’s stock, valued at approximately $20,813,281.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stuart I. Oran sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $56.24, for a total transaction of $281,200.00. Following the completion of the transaction, the insider now directly owns 12,104 shares of the company’s stock, valued at $680,728.96. The disclosure for this sale can be found here. Insiders have sold a total of 860,672 shares of company stock valued at $45,566,282 over the last three months. Insiders own 15.40% of the company’s stock.
FCB Financial Holdings Inc (NYSE FCB) traded up $0.85 during trading on Wednesday, hitting $55.85. 51,433 shares of the stock were exchanged, compared to its average volume of 192,486. FCB Financial Holdings Inc has a 1 year low of $39.90 and a 1 year high of $57.20. The company has a market cap of $2,474.80, a P/E ratio of 20.15, a P/E/G ratio of 0.82 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.76.
FCB Financial (NYSE:FCB) last released its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. FCB Financial had a net margin of 5.43% and a return on equity of 1.60%. The firm had revenue of $85.85 million during the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the firm earned $0.62 EPS. research analysts expect that FCB Financial Holdings Inc will post 3.62 earnings per share for the current fiscal year.
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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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