FCB Financial Holdings, Inc. (NYSE:FCB) CEO Sells $941,839.50 in Stock
FCB Financial Holdings, Inc. (NYSE:FCB) CEO Kent S. Ellert sold 19,950 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.21, for a total value of $941,839.50. Following the sale, the chief executive officer now owns 151,766 shares of the company’s stock, valued at $7,164,872.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of FCB Financial Holdings, Inc. (NYSE FCB) opened at 47.35 on Friday. FCB Financial Holdings, Inc. has a 12-month low of $34.57 and a 12-month high of $50.33. The firm has a 50-day moving average price of $47.44 and a 200 day moving average price of $47.53. The stock has a market cap of $2.05 billion, a PE ratio of 16.51 and a beta of 1.29.
FCB Financial Holdings (NYSE:FCB) last announced its earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. FCB Financial Holdings had a return on equity of 11.43% and a net margin of 33.95%. The business had revenue of $83 million during the quarter, compared to analyst estimates of $83.47 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts expect that FCB Financial Holdings, Inc. will post $2.80 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC acquired a new position in shares of FCB Financial Holdings during the fourth quarter valued at about $455,000. Teachers Advisors LLC raised its position in shares of FCB Financial Holdings by 298.6% in the fourth quarter. Teachers Advisors LLC now owns 274,094 shares of the bank’s stock valued at $13,074,000 after buying an additional 205,335 shares during the period. Fisher Asset Management LLC raised its position in shares of FCB Financial Holdings by 51.2% in the first quarter. Fisher Asset Management LLC now owns 61,451 shares of the bank’s stock valued at $3,045,000 after buying an additional 20,809 shares during the period. First Mercantile Trust Co. acquired a new position in shares of FCB Financial Holdings during the first quarter valued at about $253,000. Finally, Russell Investments Group Ltd. raised its position in shares of FCB Financial Holdings by 47.2% in the first quarter. Russell Investments Group Ltd. now owns 60,931 shares of the bank’s stock valued at $3,019,000 after buying an additional 19,528 shares during the period. Institutional investors and hedge funds own 94.74% of the company’s stock.
Several brokerages recently weighed in on FCB. BidaskClub cut FCB Financial Holdings from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research cut FCB Financial Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 price objective on shares of FCB Financial Holdings in a report on Thursday, July 27th. Finally, Royal Bank Of Canada started coverage on FCB Financial Holdings in a report on Monday, July 17th. They issued an “outperform” rating and a $56.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.67.
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.
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