Royal Bank Of Canada initiated coverage on shares of FCB Financial Holdings, Inc. (NYSE:FCB) in a report published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $56.00 price objective on the bank’s stock.
Several other brokerages have also recently issued reports on FCB. Keefe, Bruyette & Woods reiterated a hold rating and issued a $52.00 price objective on shares of FCB Financial Holdings in a research note on Wednesday, April 5th. ValuEngine upgraded FCB Financial Holdings from a hold rating to a buy rating in a research note on Thursday, July 6th. Zacks Investment Research cut FCB Financial Holdings from a buy rating to a hold rating in a research note on Monday, April 24th. Deutsche Bank AG reiterated a buy rating and issued a $57.00 price objective (up previously from $56.00) on shares of FCB Financial Holdings in a research note on Sunday, April 23rd. Finally, BidaskClub cut FCB Financial Holdings from a buy rating to a hold rating in a research note on Saturday, June 24th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $51.83.
Shares of FCB Financial Holdings (NYSE:FCB) opened at 47.50 on Monday. FCB Financial Holdings has a 52-week low of $34.24 and a 52-week high of $50.33. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 17.86 and a beta of 1.31. The firm’s 50 day moving average is $47.29 and its 200 day moving average is $47.57.
FCB Financial Holdings (NYSE:FCB) last announced its quarterly earnings data on Thursday, April 20th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.44 million. FCB Financial Holdings had a return on equity of 10.81% and a net margin of 32.07%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Equities analysts expect that FCB Financial Holdings will post $2.70 earnings per share for the current year.
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In related news, insider Stuart I. Oran sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $47.56, for a total transaction of $142,680.00. Following the completion of the sale, the insider now owns 10,104 shares in the company, valued at $480,546.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kent S. Ellert sold 31,320 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $48.25, for a total value of $1,511,190.00. Following the sale, the chief executive officer now owns 159,415 shares of the company’s stock, valued at approximately $7,691,773.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 629,368 shares of company stock valued at $30,052,916. 15.40% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of FCB. State Street Corp boosted its stake in shares of FCB Financial Holdings by 72.0% in the fourth quarter. State Street Corp now owns 864,511 shares of the bank’s stock worth $41,233,000 after buying an additional 361,838 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of FCB Financial Holdings by 97.0% in the first quarter. 1st Global Advisors Inc. now owns 17,258 shares of the bank’s stock worth $855,000 after buying an additional 8,498 shares in the last quarter. US Bancorp DE boosted its stake in shares of FCB Financial Holdings by 12.2% in the first quarter. US Bancorp DE now owns 22,409 shares of the bank’s stock worth $1,111,000 after buying an additional 2,429 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of FCB Financial Holdings by 3.0% in the first quarter. Gabelli Funds LLC now owns 94,800 shares of the bank’s stock worth $4,697,000 after buying an additional 2,800 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of FCB Financial Holdings by 20.0% in the first quarter. Great Lakes Advisors LLC now owns 34,671 shares of the bank’s stock worth $1,718,000 after buying an additional 5,769 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.
About FCB Financial Holdings
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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