FCB Financial (NYSE:FCB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “FCB Financial Holdings Inc. is a bank holding company for Florida Community Bank. The Company, through its subsidiaries, operates community banks in Florida, United States. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities. FCB Financial Holdings Inc. is headquartered in Weston, Florida. “
FCB has been the subject of a number of other reports. Bank of America lifted their target price on FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $61.00 target price 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 issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.20.
FCB Financial (NYSE:FCB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $85.85 million during the quarter, compared to analyst estimates of $88.53 million. During the same period last year, the company earned $0.62 EPS. equities research analysts anticipate that FCB Financial will post 3.59 earnings per share for the current fiscal year.
In other FCB Financial news, CEO Kent S. Ellert sold 20,537 shares of FCB Financial stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $51.22, for a total transaction of $1,051,905.14. Following the completion of the sale, the chief executive officer now directly owns 146,479 shares of the company’s stock, valued at approximately $7,502,654.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Les J. Lieberman sold 7,407 shares of FCB Financial stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $51.74, for a total value of $383,238.18. Following the sale, the insider now directly owns 305,605 shares of the company’s stock, valued at $15,812,002.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 693,810 shares of company stock valued at $37,554,256. 15.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FCB. Macquarie Group Ltd. raised its position in FCB Financial by 159.3% during the 3rd quarter. Macquarie Group Ltd. now owns 506,892 shares of the bank’s stock valued at $24,483,000 after purchasing an additional 311,406 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of FCB Financial by 5,419.6% in the 4th quarter. Victory Capital Management Inc. now owns 301,592 shares of the bank’s stock valued at $15,321,000 after acquiring an additional 296,128 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of FCB Financial in the 3rd quarter valued at $11,094,000. Dimensional Fund Advisors LP increased its holdings in shares of FCB Financial by 13.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock valued at $70,374,000 after acquiring an additional 173,511 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA purchased a new position in shares of FCB Financial in the 4th quarter valued at $8,636,000. 92.87% of the stock is owned by institutional investors and hedge funds.
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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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