Grandeur Peak Global Advisors LLC Takes $693,000 Position in FCB Financial Holdings, Inc. (FCB)
Grandeur Peak Global Advisors LLC acquired a new stake in FCB Financial Holdings, Inc. (NYSE:FCB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,350 shares of the bank’s stock, valued at approximately $693,000.
Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of FCB Financial in the 2nd quarter valued at $502,000. UBS Asset Management Americas Inc. increased its stake in shares of FCB Financial by 9.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,221 shares of the bank’s stock valued at $1,061,000 after acquiring an additional 1,899 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of FCB Financial in the 3rd quarter valued at $626,000. Voya Investment Management LLC increased its stake in shares of FCB Financial by 40.8% in the 2nd quarter. Voya Investment Management LLC now owns 16,236 shares of the bank’s stock valued at $775,000 after acquiring an additional 4,706 shares in the last quarter. Finally, Emerald Advisers Inc. PA increased its stake in FCB Financial by 6.7% during the 3rd quarter. Emerald Advisers Inc. PA now owns 677,903 shares of the bank’s stock valued at $32,743,000 after purchasing an additional 42,390 shares in the last quarter. Institutional investors own 94.08% of the company’s stock.
A number of brokerages have commented on FCB. Royal Bank Of Canada restated a “buy” rating and set a $54.00 price target on shares of FCB Financial in a research note on Wednesday, October 25th. ValuEngine lowered shares of FCB Financial from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of FCB Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of FCB Financial in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. FCB Financial currently has a consensus rating of “Hold” and a consensus price target of $53.40.
In related news, CEO Kent S. Ellert sold 11,584 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $51.36, for a total value of $594,954.24. Following the transaction, the chief executive officer now directly owns 145,435 shares of the company’s stock, valued at approximately $7,469,541.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan S. Bernikow sold 44,130 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $49.00, for a total transaction of $2,162,370.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 632,110 shares of company stock valued at $31,374,805. Company insiders own 15.40% of the company’s stock.
Shares of FCB Financial Holdings, Inc. (FCB) opened at $51.60 on Friday. FCB Financial Holdings, Inc. has a one year low of $39.90 and a one year high of $54.10. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2,240.00, a price-to-earnings ratio of 19.04, a PEG ratio of 1.28 and a beta of 1.36.
FCB Financial (NYSE:FCB) last posted its earnings results on Tuesday, October 24th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. FCB Financial had a net margin of 34.09% and a return on equity of 11.42%. The firm had revenue of $84.21 million during the quarter, compared to analyst estimates of $87.16 million. During the same quarter in the prior year, the business posted $0.60 EPS. research analysts expect that FCB Financial Holdings, Inc. will post 2.84 earnings per share for the current 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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