Emerald Advisers Inc. PA Raises Stake in FCB Financial Holdings Inc (FCB)
Emerald Advisers Inc. PA increased its position in FCB Financial Holdings Inc (NYSE:FCB) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 815,359 shares of the bank’s stock after buying an additional 137,456 shares during the period. FCB Financial accounts for approximately 1.6% of Emerald Advisers Inc. PA’s investment portfolio, making the stock its 11th biggest holding. Emerald Advisers Inc. PA’s holdings in FCB Financial were worth $41,420,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of FCB Financial in the 2nd quarter valued at about $109,000. Valeo Financial Advisors LLC acquired a new stake in shares of FCB Financial in the 3rd quarter valued at about $146,000. Ameritas Investment Partners Inc. grew its stake in shares of FCB Financial by 19.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the bank’s stock valued at $148,000 after buying an additional 504 shares during the period. M&R Capital Management Inc. grew its stake in shares of FCB Financial by 600.0% in the 2nd quarter. M&R Capital Management Inc. now owns 3,500 shares of the bank’s stock valued at $152,000 after buying an additional 3,000 shares during the period. Finally, Bartlett & Co. LLC acquired a new stake in shares of FCB Financial in the 3rd quarter valued at about $201,000. Institutional investors own 92.47% of the company’s stock.
In related news, insider Stuart I. Oran sold 11,142 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $45.76, for a total value of $509,857.92. Following the transaction, the insider now owns 18,246 shares of the company’s stock, valued at approximately $834,936.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kent S. Ellert sold 18,946 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $52.54, for a total transaction of $995,422.84. Following the completion of the transaction, the chief executive officer now directly owns 150,759 shares in the company, valued at approximately $7,920,877.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 856,060 shares of company stock worth $45,148,663. 15.40% of the stock is owned by insiders.
FCB Financial (NYSE:FCB) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. FCB Financial had a net margin of 30.60% and a return on equity of 11.82%. The business had revenue of $85.85 million for the quarter, compared to analysts’ expectations of $88.53 million. During the same quarter last year, the firm earned $0.62 EPS. equities analysts expect that FCB Financial Holdings Inc will post 3.62 earnings per share for the current year.
Several analysts have recently commented on FCB shares. Royal Bank of Canada restated a “buy” rating and issued a $61.00 target price on shares of FCB Financial in a research note on Wednesday, January 24th. Bank of America raised their price target on shares of FCB Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of FCB Financial from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. FCB Financial presently has an average rating of “Buy” and an average price target of $59.20.
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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