Los Angeles Capital Management & Equity Research Inc. Acquires 9,640 Shares of FCB Financial Holdings, Inc. (FCB)
Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of FCB Financial Holdings, Inc. (NYSE:FCB) by 161.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,605 shares of the bank’s stock after purchasing an additional 9,640 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in FCB Financial were worth $754,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. raised its holdings in shares of FCB Financial by 5.5% during the 3rd quarter. Sei Investments Co. now owns 33,889 shares of the bank’s stock worth $1,637,000 after acquiring an additional 1,767 shares during the period. Alps Advisors Inc. purchased a new stake in FCB Financial in the 3rd quarter valued at about $519,000. Boston Partners raised its holdings in FCB Financial by 3.3% in the 3rd quarter. Boston Partners now owns 850,100 shares of the bank’s stock valued at $41,059,000 after buying an additional 26,987 shares during the period. Keybank National Association OH purchased a new stake in FCB Financial in the 3rd quarter valued at about $330,000. Finally, American Century Companies Inc. raised its holdings in FCB Financial by 1.2% in the 3rd quarter. American Century Companies Inc. now owns 832,951 shares of the bank’s stock valued at $40,232,000 after buying an additional 10,150 shares during the period. 94.29% of the stock is currently owned by institutional investors.
In other news, Director Frederic V. Salerno sold 20,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $48.48, for a total transaction of $969,600.00. Following the completion of the transaction, the director now directly owns 24,200 shares of the company’s stock, valued at $1,173,216. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Vincent Tese sold 20,174 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $47.59, for a total value of $960,080.66. Following the transaction, the chairman now directly owns 412,993 shares of the company’s stock, valued at $19,654,336.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,863 shares of company stock valued at $17,292,860. Corporate insiders own 15.40% of the company’s stock.
Several analysts recently issued reports on FCB shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $51.00 price objective on shares of FCB Financial in a report on Tuesday, October 3rd. ValuEngine lowered shares of FCB Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $54.00 price target on shares of FCB Financial in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of FCB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, BidaskClub lowered shares of FCB Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.40.
Shares of FCB Financial Holdings, Inc. (NYSE:FCB) traded up $2.70 during trading hours on Thursday, reaching $52.70. 360,700 shares of the company’s stock were exchanged, compared to its average volume of 241,359. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $2,191.32, a price-to-earnings ratio of 18.45, a PEG ratio of 1.24 and a beta of 1.30. FCB Financial Holdings, Inc. has a one year low of $39.90 and a one year high of $52.80.
FCB Financial (NYSE:FCB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. FCB Financial had a net margin of 34.09% and a return on equity of 11.42%. The company had revenue of $84.21 million for the quarter, compared to analyst estimates of $87.16 million. During the same period in the prior year, the firm earned $0.60 earnings per share. equities analysts forecast that FCB Financial Holdings, Inc. will post 2.84 earnings per share for the current fiscal year.
FCB Financial Company Profile
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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