Zacks Investment Research upgraded shares of FCB Financial (NYSE:FCB) from a sell rating to a hold rating in a research report report published 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 also recently issued research reports about the company. UBS Group raised FCB Financial from a sell rating to a neutral rating and raised their price objective for the company from $50.00 to $54.00 in a report on Thursday, July 26th. ValuEngine downgraded FCB Financial from a hold rating to a sell rating in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reissued a hold rating and set a $61.00 price objective on shares of FCB Financial in a report on Wednesday, August 8th. Royal Bank of Canada reissued a buy rating and set a $57.00 price objective on shares of FCB Financial in a report on Wednesday, July 25th. Finally, Deutsche Bank downgraded FCB Financial from a buy rating to a hold rating and cut their price objective for the company from $66.00 to $44.00 in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. FCB Financial has a consensus rating of Hold and an average target price of $55.50.
Shares of FCB stock traded down $0.44 during trading hours on Wednesday, reaching $39.19. The company’s stock had a trading volume of 464,179 shares, compared to its average volume of 568,941. The company has a market cap of $1.86 billion, a PE ratio of 11.95, a P/E/G ratio of 0.64 and a beta of 1.35. FCB Financial has a fifty-two week low of $37.65 and a fifty-two week high of $62.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 0.93.
FCB Financial (NYSE:FCB) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. FCB Financial had a return on equity of 13.29% and a net margin of 29.45%. The company had revenue of $101.40 million for the quarter, compared to the consensus estimate of $104.71 million. During the same quarter last year, the business posted $0.74 EPS. On average, equities analysts predict that FCB Financial will post 3.67 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Janney Capital Management LLC raised its position in FCB Financial by 10.2% during the 2nd quarter. Janney Capital Management LLC now owns 10,901 shares of the bank’s stock worth $641,000 after purchasing an additional 1,008 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in FCB Financial by 31.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 5,634 shares of the bank’s stock worth $331,000 after purchasing an additional 1,361 shares during the last quarter. Rafferty Asset Management LLC raised its position in FCB Financial by 40.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 5,259 shares of the bank’s stock worth $249,000 after purchasing an additional 1,506 shares during the last quarter. Amalgamated Bank raised its position in FCB Financial by 32.2% during the 2nd quarter. Amalgamated Bank now owns 6,381 shares of the bank’s stock worth $375,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in FCB Financial by 32.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,930 shares of the bank’s stock worth $354,000 after purchasing an additional 1,700 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.
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.
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