First NBC Bank Holding Co. (NASDAQ:FNBC) dropped 1.4% during trading on Wednesday . The company traded as low as $10.47 and last traded at $10.48, with a volume of 421,705 shares trading hands. The stock had previously closed at $10.63.

FNBC has been the subject of a number of research analyst reports. Zacks Investment Research cut First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. FBR & Co restated a “market perform” rating on shares of First NBC Bank Holding in a research note on Tuesday, September 6th. Keefe, Bruyette & Woods upgraded First NBC Bank Holding from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $22.00 to $24.00 in a research note on Tuesday, August 23rd. Hovde Group upgraded First NBC Bank Holding from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Monday, June 13th. Finally, TheStreet cut First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.50.

The company has a 50 day moving average of $12.87 and a 200-day moving average of $17.79. The company’s market cap is $201.54 million.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MAI Capital Management boosted its position in First NBC Bank Holding by 16.9% in the second quarter. MAI Capital Management now owns 34,643 shares of the financial services provider’s stock valued at $582,000 after buying an additional 5,000 shares during the last quarter. Barclays PLC boosted its position in First NBC Bank Holding by 123.5% in the first quarter. Barclays PLC now owns 67,500 shares of the financial services provider’s stock valued at $1,350,000 after buying an additional 37,300 shares during the last quarter. Renaissance Technologies LLC bought a new position in First NBC Bank Holding during the first quarter valued at approximately $525,000. Lazard Asset Management LLC bought a new position in First NBC Bank Holding during the first quarter valued at approximately $2,271,000. Finally, DUPONT CAPITAL MANAGEMENT Corp boosted its position in First NBC Bank Holding by 301.2% in the second quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 37,564 shares of the financial services provider’s stock valued at $631,000 after buying an additional 28,202 shares during the last quarter. 79.53% of the stock is owned by hedge funds and other institutional investors.

About First NBC Bank Holding

First NBC Bank Holding Company is a bank holding company. The Company offers a range of financial services through its wholly owned banking subsidiary, First NBC Bank. It serves its customers located in the Central Business District of New Orleans and the Mississippi Gulf Coast. The Company’s primary focus is on commercial real estate and commercial lending.

5 Day Chart for NASDAQ:FNBC

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