First NBC Bank Holding Co. (NASDAQ:FNBC) dropped 4.9% during trading on Monday . The company traded as low as $18.09 and last traded at $18.10, with a volume of 145,473 shares. The stock had previously closed at $19.03.

FNBC has been the topic of a number of recent research reports. Zacks Investment Research cut First NBC Bank Holding from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 23rd. Keefe, Bruyette & Woods cut their target price on First NBC Bank Holding from $35.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 14th. Finally, Hovde Group raised First NBC Bank Holding from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Monday, June 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.75.

The stock’s 50-day moving average price is $17.95 and its 200 day moving average price is $21.28. The firm has a market cap of $345.29 million and a PE ratio of 5.26.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in First NBC Bank Holding by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 28,250 shares of the financial services provider’s stock worth $1,056,000 after buying an additional 400 shares during the period. First Trust Advisors LP boosted its position in First NBC Bank Holding by 371.2% in the fourth quarter. First Trust Advisors LP now owns 56,284 shares of the financial services provider’s stock worth $2,104,000 after buying an additional 44,340 shares during the period. OppenheimerFunds Inc. boosted its position in First NBC Bank Holding by 0.7% in the fourth quarter. OppenheimerFunds Inc. now owns 395,767 shares of the financial services provider’s stock worth $14,797,000 after buying an additional 2,749 shares during the period. Boston Partners boosted its position in First NBC Bank Holding by 3.2% in the fourth quarter. Boston Partners now owns 117,317 shares of the financial services provider’s stock worth $4,386,000 after buying an additional 3,644 shares during the period. Finally, Bank of Montreal Can boosted its position in First NBC Bank Holding by 28.7% in the fourth quarter. Bank of Montreal Can now owns 38,854 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 8,658 shares during the period.

First NBC Bank Holding Company is a bank holding company. The Company offers a range of financial services through its wholly owned banking subsidiary, First NBC Bank. It serves its customers located in the Central Business District of New Orleans and the Mississippi Gulf Coast. The Company’s primary focus is on commercial real estate and commercial lending.

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