Chicago Capital Management LLC Takes Position in FCB Financial Holdings Inc (FCB)
Chicago Capital Management LLC acquired a new position in shares of FCB Financial Holdings Inc (NYSE:FCB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 130,775 shares of the bank’s stock, valued at approximately $6,199,000. FCB Financial comprises approximately 2.4% of Chicago Capital Management LLC’s holdings, making the stock its 13th biggest position.
Several other hedge funds have also made changes to their positions in FCB. Millennium Management LLC bought a new stake in shares of FCB Financial during the 1st quarter worth $1,222,000. Principal Financial Group Inc. lifted its position in shares of FCB Financial by 10.1% during the 1st quarter. Principal Financial Group Inc. now owns 28,315 shares of the bank’s stock worth $1,447,000 after buying an additional 2,597 shares during the last quarter. Amalgamated Bank lifted its position in shares of FCB Financial by 32.2% during the 2nd quarter. Amalgamated Bank now owns 6,381 shares of the bank’s stock worth $375,000 after buying an additional 1,553 shares during the last quarter. Janney Capital Management LLC lifted its position in shares of FCB Financial by 10.2% during the 2nd quarter. Janney Capital Management LLC now owns 10,901 shares of the bank’s stock worth $641,000 after buying an additional 1,008 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new stake in shares of FCB Financial during the 2nd quarter worth $345,000. Institutional investors and hedge funds own 91.16% of the company’s stock.
Shares of FCB opened at $37.50 on Wednesday. FCB Financial Holdings Inc has a 12-month low of $37.25 and a 12-month high of $62.95. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.62 and a beta of 1.35.
Several analysts recently weighed in on the company. Gabelli downgraded FCB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $57.00 target price on shares of FCB Financial in a report on Wednesday, July 25th. UBS Group raised FCB Financial from a “sell” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $54.00 in a report on Thursday, July 26th. ValuEngine raised FCB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research raised FCB Financial from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. FCB Financial currently has an average rating of “Hold” and a consensus price target of $55.50.
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FCB Financial Profile
FCB Financial Holdings, Inc operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida. The company offers various deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificates of deposit; checking products; and money market accounts and IRAs.
Read More: Stock Symbols and CUSIP Explained
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