Zacks Investment Research lowered shares of FCB Financial (NYSE:FCB) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed a buy rating and set a $54.00 price target on shares of FCB Financial in a research report on Friday, September 8th. Keefe, Bruyette & Woods reissued a hold rating and issued a $51.00 target price on shares of FCB Financial in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $54.60.
FCB Financial (NYSE:FCB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. FCB Financial had a net margin of 34.09% and a return on equity of 11.42%. The firm had revenue of $84.21 million during the quarter, compared to analyst estimates of $87.16 million. During the same quarter in the prior year, the firm earned $0.60 EPS. sell-side analysts expect that FCB Financial will post 2.84 earnings per share for the current fiscal year.
In related news, insider Stuart I. Oran sold 11,142 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $47.62, for a total value of $530,582.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kent S. Ellert sold 19,987 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $51.41, for a total transaction of $1,027,531.67. Following the completion of the sale, the chief executive officer now directly owns 173,252 shares of the company’s stock, valued at $8,906,885.32. The disclosure for this sale can be found here. Insiders sold a total of 656,291 shares of company stock valued at $33,721,666 over the last three months. 15.40% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new stake in FCB Financial in the 2nd quarter worth approximately $502,000. UBS Asset Management Americas Inc. grew its holdings in FCB Financial by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,221 shares of the bank’s stock valued at $1,061,000 after buying an additional 1,899 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in FCB Financial during the 3rd quarter valued at approximately $626,000. Voya Investment Management LLC grew its holdings in FCB Financial by 40.8% during the 2nd quarter. Voya Investment Management LLC now owns 16,236 shares of the bank’s stock valued at $775,000 after buying an additional 4,706 shares in the last quarter. Finally, Boston Partners grew its holdings in FCB Financial by 3.3% during the 3rd quarter. Boston Partners now owns 850,100 shares of the bank’s stock valued at $41,059,000 after buying an additional 26,987 shares in the last quarter. 93.72% of the stock is owned by institutional investors.
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FCB Financial Company 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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