First NBC Bank Holding Co. (FNBC) Sees Unusually-High Trading Volume
First NBC Bank Holding Co. (NASDAQ:FNBC) saw unusually-high trading volume on Tuesday . Approximately 633,956 shares changed hands during trading, an increase of 64% from the previous session’s volume of 385,524 shares.The stock last traded at $12.22 and had previously closed at $12.21.
FNBC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating on shares of First NBC Bank Holding in a research report on Wednesday, June 15th. Zacks Investment Research downgraded shares of First NBC Bank Holding from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 23rd. Finally, Hovde Group raised shares of First NBC Bank Holding from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.75.
The firm has a market cap of $233.12 million and a PE ratio of 3.55. The firm has a 50 day moving average price of $17.34 and a 200-day moving average price of $20.13.
Several hedge funds and institutional investors have recently bought and sold shares of the stock. Argent Capital Management LLC purchased a new position in First NBC Bank Holding during the fourth quarter worth approximately $1,710,000. First Trust Advisors LP increased 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 in the last quarter. Finally, Bank of Montreal Can increased 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 in the last quarter.
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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