FCB Financial Holdings Inc (FCB) Given Average Recommendation of “Buy” by Analysts
Shares of FCB Financial Holdings Inc (NYSE:FCB) have earned an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $59.20.
Several research firms have commented on FCB. Royal Bank of Canada reaffirmed 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 lifted their target price on shares of FCB Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of FCB Financial from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Thursday, January 11th.
Shares of FCB Financial (NYSE:FCB) opened at $55.60 on Friday. The company has a market cap of $2,410.00, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.76. FCB Financial has a 12 month low of $39.90 and a 12 month high of $57.20.
In other FCB Financial news, insider Stuart I. Oran sold 11,142 shares of FCB Financial stock in a transaction on 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 in the company, valued at approximately $834,936.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Vincent Tese sold 219,554 shares of FCB Financial stock in a transaction on Friday, December 1st. The shares were sold at an average price of $52.85, for a total transaction of $11,603,428.90. Following the completion of the transaction, the chairman now owns 393,818 shares in the company, valued at approximately $20,813,281.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 808,985 shares of company stock worth $42,555,699. 15.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of FCB Financial by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,089,371 shares of the bank’s stock valued at $147,518,000 after purchasing an additional 262,969 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of FCB Financial by 6.8% during the 2nd quarter. BlackRock Inc. now owns 2,405,513 shares of the bank’s stock valued at $114,862,000 after acquiring an additional 153,627 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FCB Financial by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock valued at $70,374,000 after acquiring an additional 173,511 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of FCB Financial by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,228,478 shares of the bank’s stock valued at $58,968,000 after acquiring an additional 6,191 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of FCB Financial by 4.8% during the 4th quarter. Boston Partners now owns 890,811 shares of the bank’s stock valued at $45,253,000 after acquiring an additional 40,711 shares in the last quarter. Institutional investors own 92.52% of the company’s stock.
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About FCB Financial
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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