Pier Capital LLC increased its holdings in shares of FCB Financial Holdings Inc (NYSE:FCB) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,047 shares of the bank’s stock after buying an additional 35,467 shares during the quarter. FCB Financial accounts for approximately 1.2% of Pier Capital LLC’s holdings, making the stock its 15th biggest position. Pier Capital LLC owned approximately 0.31% of FCB Financial worth $7,114,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of FCB Financial by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,546,146 shares of the bank’s stock worth $129,344,000 after buying an additional 74,651 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FCB Financial by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock worth $70,374,000 after buying an additional 173,511 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of FCB Financial by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,232,159 shares of the bank’s stock worth $62,594,000 after buying an additional 38,230 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of FCB Financial by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 1,228,478 shares of the bank’s stock worth $58,968,000 after buying an additional 6,191 shares during the last quarter. Finally, Boston Partners lifted its position in shares of FCB Financial by 4.8% in the fourth quarter. Boston Partners now owns 890,811 shares of the bank’s stock worth $45,253,000 after buying an additional 40,711 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
In related news, Vice Chairman Les J. Lieberman sold 7,407 shares of the business’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $51.74, for a total transaction of $383,238.18. Following the completion of the transaction, the insider now owns 305,605 shares of the company’s stock, valued at approximately $15,812,002.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stuart I. Oran sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $51.79, for a total value of $258,950.00. Following the transaction, the insider now directly owns 12,104 shares of the company’s stock, valued at approximately $626,866.16. The disclosure for this sale can be found here. Insiders have sold a total of 657,067 shares of company stock valued at $35,684,272 in the last three months. 15.40% of the stock is owned by insiders.
FCB Financial stock opened at $56.10 on Monday. FCB Financial Holdings Inc has a 12-month low of $39.90 and a 12-month high of $57.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2,509.00, a PE ratio of 19.68, a P/E/G ratio of 0.86 and a beta of 1.32.
FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. FCB Financial had a return on equity of 11.64% and a net margin of 30.60%. The business had revenue of $85.85 million during the quarter, compared to analysts’ expectations of $88.53 million. During the same quarter in the previous year, the firm earned $0.62 EPS. analysts forecast that FCB Financial Holdings Inc will post 3.59 earnings per share for the current fiscal year.
A number of analysts have weighed in on FCB shares. Zacks Investment Research raised FCB Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, December 26th. Bank of America boosted their price target on FCB Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 price target on shares of FCB Financial in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.20.
FCB Financial 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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