Insider Selling: FCB Financial Holdings, Inc. (NYSE:FCB) CEO Sells 12,818 Shares of Stock
FCB Financial Holdings, Inc. (NYSE:FCB) CEO Kent S. Ellert sold 12,818 shares of FCB Financial Holdings stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $47.42, for a total value of $607,829.56. Following the completion of the transaction, the chief executive officer now owns 147,139 shares of the company’s stock, valued at $6,977,331.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
FCB Financial Holdings, Inc. (NYSE FCB) opened at 46.70 on Wednesday. The company has a 50-day moving average price of $47.40 and a 200-day moving average price of $47.52. FCB Financial Holdings, Inc. has a 1-year low of $35.55 and a 1-year high of $50.33. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.28 and a beta of 1.29.
FCB Financial Holdings (NYSE:FCB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. The business had revenue of $83 million for the quarter, compared to analysts’ expectations of $83.47 million. FCB Financial Holdings had a net margin of 33.95% and a return on equity of 11.11%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities research analysts predict that FCB Financial Holdings, Inc. will post $2.80 earnings per share for the current fiscal year.
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A number of equities analysts recently commented on FCB shares. BidaskClub downgraded FCB Financial Holdings from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $57.00 price target (up from $56.00) on shares of FCB Financial Holdings in a research note on Sunday, April 23rd. Zacks Investment Research upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Friday, July 28th. Royal Bank Of Canada started coverage on FCB Financial Holdings in a research note on Monday, July 17th. They issued an “outperform” rating and a $56.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 price target on shares of FCB Financial Holdings in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.67.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in FCB Financial Holdings by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,826,402 shares of the bank’s stock worth $140,048,000 after buying an additional 101,061 shares during the last quarter. BlackRock Inc. boosted its stake in shares of FCB Financial Holdings by 11,599.9% in the first quarter. BlackRock Inc. now owns 2,251,886 shares of the bank’s stock valued at $111,582,000 after buying an additional 2,232,639 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of FCB Financial Holdings by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 1,836,037 shares of the bank’s stock valued at $90,975,000 after buying an additional 44,901 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of FCB Financial Holdings by 34.1% in the first quarter. JPMorgan Chase & Co. now owns 1,672,170 shares of the bank’s stock valued at $82,857,000 after buying an additional 425,549 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of FCB Financial Holdings by 66.6% in the first quarter. Wellington Management Group LLP now owns 1,606,383 shares of the bank’s stock valued at $79,596,000 after buying an additional 641,937 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
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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