JPMorgan Chase & Co. reduced its position in FCB Financial Holdings, Inc. (NYSE:FCB) by 26.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,287 shares of the bank’s stock after selling 449,883 shares during the period. JPMorgan Chase & Co. owned approximately 2.87% of FCB Financial Holdings worth $58,364,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of FCB Financial Holdings in the 1st quarter valued at about $117,000. Ameritas Investment Partners Inc. acquired a new position in shares of FCB Financial Holdings in the 1st quarter valued at about $128,000. SG Americas Securities LLC lifted its stake in shares of FCB Financial Holdings by 23.6% in the 1st quarter. SG Americas Securities LLC now owns 3,397 shares of the bank’s stock valued at $168,000 after purchasing an additional 649 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of FCB Financial Holdings by 16.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,453 shares of the bank’s stock valued at $171,000 after purchasing an additional 494 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in shares of FCB Financial Holdings in the 1st quarter valued at about $204,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of FCB Financial Holdings, Inc. (FCB) opened at 43.75 on Wednesday. FCB Financial Holdings, Inc. has a one year low of $35.55 and a one year high of $50.33. The stock has a market capitalization of $1.90 billion, a P/E ratio of 15.25 and a beta of 1.31. The company’s 50 day moving average price is $44.76 and its 200 day moving average price is $46.94.
FCB Financial Holdings (NYSE:FCB) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The company had revenue of $83.00 million during the quarter, compared to the consensus estimate of $83.47 million. FCB Financial Holdings had a return on equity of 11.11% and a net margin of 33.95%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. On average, equities analysts expect that FCB Financial Holdings, Inc. will post $2.80 earnings per share for the current year.
FCB has been the topic of several research analyst reports. Zacks Investment Research lowered FCB Financial Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. BidaskClub lowered FCB Financial Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. ValuEngine raised FCB Financial Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Royal Bank Of Canada initiated coverage on FCB Financial Holdings in a research note on Monday, July 17th. They issued an “outperform” rating and a $56.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 target price on shares of FCB Financial Holdings in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.40.
TRADEMARK VIOLATION NOTICE: This article was first reported by Stock Observer and is the property of of Stock Observer. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.thestockobserver.com/2017/09/13/fcb-financial-holdings-inc-fcb-shares-sold-by-jpmorgan-chase-co.html.
In other news, Director Alan S. Bernikow sold 5,870 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $49.00, for a total transaction of $287,630.00. Following the completion of the sale, the director now owns 10,070 shares in the company, valued at approximately $493,430. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Vincent Tese sold 10,487 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $47.10, for a total value of $493,937.70. Following the sale, the chairman now owns 400,717 shares of the company’s stock, valued at approximately $18,873,770.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 722,871 shares of company stock valued at $33,237,263. 15.40% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for FCB Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FCB Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.