Avalon Advisors LLC Grows Stake in FCB Financial Holdings Inc (FCB)

Avalon Advisors LLC grew its position in FCB Financial Holdings Inc (NYSE:FCB) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,611 shares of the bank’s stock after acquiring an additional 5,686 shares during the quarter. Avalon Advisors LLC owned about 0.11% of FCB Financial worth $2,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in FCB Financial by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 184,184 shares of the bank’s stock worth $9,357,000 after buying an additional 8,452 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in FCB Financial during the fourth quarter worth approximately $715,000. California Public Employees Retirement System purchased a new position in FCB Financial during the fourth quarter worth approximately $262,000. Swiss National Bank lifted its position in FCB Financial by 3.4% during the fourth quarter. Swiss National Bank now owns 70,100 shares of the bank’s stock worth $3,561,000 after buying an additional 2,300 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in FCB Financial by 39.2% during the fourth quarter. First Trust Advisors LP now owns 100,864 shares of the bank’s stock worth $5,124,000 after buying an additional 28,384 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

NYSE:FCB opened at $60.00 on Friday. FCB Financial Holdings Inc has a 52 week low of $39.90 and a 52 week high of $62.95. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33.

FCB Financial (NYSE:FCB) last posted its earnings results on Tuesday, April 24th. The bank reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. FCB Financial had a return on equity of 12.00% and a net margin of 29.39%. The company had revenue of $90.81 million for the quarter, compared to the consensus estimate of $89.90 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. research analysts predict that FCB Financial Holdings Inc will post 3.69 EPS for the current fiscal year.

A number of brokerages recently commented on FCB. ValuEngine downgraded FCB Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Zacks Investment Research upgraded FCB Financial from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Monday, May 7th. Royal Bank of Canada reiterated a “buy” rating on shares of FCB Financial in a research report on Thursday, April 26th. Finally, UBS Group began coverage on FCB Financial in a research report on Wednesday, March 21st. They set a “sell” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. FCB Financial has a consensus rating of “Hold” and an average target price of $58.20.

About FCB Financial

FCB Financial Holdings, Inc operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida. The company offers various deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificates of deposit; checking products; and money market accounts and IRAs.

Institutional Ownership by Quarter for FCB Financial (NYSE:FCB)

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