Todays Report: The ClariVest Asset Management LLC Takes Position in First NBC Bank Holding Co. (FNBC)

The ClariVest Asset Management LLC Takes Position in First NBC Bank Holding Co. (FNBC)

ClariVest Asset Management LLC bought a new position in First NBC Bank Holding Co. (NASDAQ:FNBC) during the second quarter, according to its most recent filing with the SEC. The fund bought 79,900 shares of the financial services provider’s stock, valued at approximately $1,341,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Springbok Capital Management LLC raised its stake in First NBC Bank Holding by 206.4% in the first quarter. Springbok Capital Management LLC now owns 6,037 shares of the financial services provider’s stock worth $124,000 after buying an additional 4,067 shares during the last quarter. BB&T Securities LLC purchased a new stake in First NBC Bank Holding during the first quarter worth $380,000. Renaissance Technologies LLC purchased a new stake in First NBC Bank Holding during the first quarter worth $525,000. Bogle Investment Management L P DE purchased a new stake in First NBC Bank Holding during the first quarter worth $655,000. Finally, MAI Capital Management raised its stake 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 worth $582,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.

Shares of First NBC Bank Holding Co. (NASDAQ:FNBC) traded down 4.86% during trading on Thursday, reaching $10.38. The company had a trading volume of 219,734 shares. The firm has a 50-day moving average price of $11.36 and a 200-day moving average price of $16.51. First NBC Bank Holding Co. has a 52-week low of $9.09 and a 52-week high of $43.52. The company’s market capitalization is $199.62 million.

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating on shares of First NBC Bank Holding in a research note on Wednesday, June 15th. TheStreet lowered shares of First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. FBR & Co restated a “hold” rating on shares of First NBC Bank Holding in a research note on Monday, September 19th. Finally, Zacks Investment Research lowered shares of First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.50.

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.

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