3,021 Shares in FCB Financial Holdings, Inc. (FCB) Purchased by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC purchased a new position in shares of FCB Financial Holdings, Inc. (NYSE:FCB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,021 shares of the bank’s stock, valued at approximately $146,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Grandeur Peak Global Advisors LLC bought a new position in shares of FCB Financial during the 3rd quarter valued at about $693,000. M&R Capital Management Inc. lifted its position in shares of FCB Financial by 150.9% in the third quarter. M&R Capital Management Inc. now owns 8,780 shares of the bank’s stock worth $424,000 after purchasing an additional 5,280 shares in the last quarter. Stifel Financial Corp lifted its position in shares of FCB Financial by 13.0% in the third quarter. Stifel Financial Corp now owns 418,354 shares of the bank’s stock worth $20,205,000 after purchasing an additional 47,995 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of FCB Financial in the third quarter worth approximately $5,780,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of FCB Financial by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock worth $70,374,000 after purchasing an additional 173,511 shares in the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.
In other news, 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 transaction of $960,080.66. Following the completion of the transaction, the chairman now directly owns 412,993 shares in the company, valued at approximately $19,654,336.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kent S. Ellert sold 16,610 shares of FCB Financial stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $51.38, for a total value of $853,421.80. Following the transaction, the chief executive officer now owns 146,064 shares in the company, valued at approximately $7,504,768.32. The disclosure for this sale can be found here. Insiders sold 623,424 shares of company stock valued at $31,145,811 over the last ninety days. 15.40% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on FCB. Zacks Investment Research raised shares of FCB Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. 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. Royal Bank of Canada restated a “buy” rating and issued a $54.00 price objective on shares of FCB Financial in a report on Wednesday, October 25th. Finally, ValuEngine downgraded FCB Financial from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.40.
Shares of FCB Financial Holdings, Inc. (FCB) traded down $0.55 during mid-day trading on Thursday, reaching $50.75. The company had a trading volume of 341,800 shares, compared to its average volume of 241,098. The company has a market capitalization of $2,250.77, a PE ratio of 18.93, a P/E/G ratio of 1.28 and a beta of 1.36. FCB Financial Holdings, Inc. has a 52-week low of $39.90 and a 52-week high of $54.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.93 and a current ratio of 0.94.
FCB Financial (NYSE:FCB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The company had revenue of $84.21 million during the quarter, compared to analysts’ expectations of $87.16 million. FCB Financial had a return on equity of 11.42% and a net margin of 34.09%. During the same period last year, the business earned $0.60 earnings per share. research analysts anticipate that FCB Financial Holdings, Inc. will post 2.84 EPS for the current fiscal year.
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FCB Financial 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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