First NBC Bank Holding Co. (FNBC) Shares Down 8.8%
First NBC Bank Holding Co. (NASDAQ:FNBC)’s share price fell 8.8% during mid-day trading on Monday . The company traded as low as $12.25 and last traded at $12.35, with a volume of 429,445 shares changing hands. The stock had previously closed at $13.54.
A number of brokerages have recently issued reports on FNBC. Zacks Investment Research cut shares of First NBC Bank Holding from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 23rd. Keefe, Bruyette & Woods dropped their price objective on shares of First NBC Bank Holding from $35.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, June 14th. Finally, Hovde Group upgraded shares of First NBC Bank Holding from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. First NBC Bank Holding presently has a consensus rating of “Hold” and a consensus target price of $21.75.
The stock has a 50 day moving average price of $17.42 and a 200 day moving average price of $20.27. The stock has a market capitalization of $232.93 million and a price-to-earnings ratio of 3.55.
Other institutional investors have recently modified their holdings of the company. Argent Capital Management LLC purchased a new position in shares of First NBC Bank Holding during the fourth quarter worth $1,710,000. First Trust Advisors LP increased its position in shares of 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 last quarter. Finally, Bank of Montreal Can increased its position in shares of 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.