Todays Report: The JPMorgan Chase & Co. Acquires 21,875 Shares of First NBC Bank Holding Co. (FNBC)

The JPMorgan Chase & Co. Acquires 21,875 Shares of First NBC Bank Holding Co. (FNBC)

JPMorgan Chase & Co. raised its stake in First NBC Bank Holding Co. (NASDAQ:FNBC) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 332,600 shares of the financial services provider’s stock after buying an additional 21,875 shares during the period. JPMorgan Chase & Co. owned about 1.74% of First NBC Bank Holding worth $5,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of First NBC Bank Holding by 59.1% in the second quarter. Ameriprise Financial Inc. now owns 610,002 shares of the financial services provider’s stock valued at $10,242,000 after buying an additional 226,629 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of First NBC Bank Holding during the second quarter worth about $271,000. Emerald Acquisition Ltd. purchased a new position in shares of First NBC Bank Holding during the second quarter worth about $2,846,000. DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of 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 worth $631,000 after buying an additional 28,202 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of First NBC Bank Holding by 1.6% in the second quarter. California State Teachers Retirement System now owns 32,803 shares of the financial services provider’s stock worth $551,000 after buying an additional 519 shares during the period. 79.53% of the stock is currently owned by institutional investors.

Shares of First NBC Bank Holding Co. (NASDAQ:FNBC) traded down 1.27% during mid-day trading on Wednesday, reaching $10.89. 65,159 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $11.43 and a 200 day moving average price of $16.55. The firm’s market cap is $209.43 million. First NBC Bank Holding Co. has a 52-week low of $9.09 and a 52-week high of $43.52.

A number of research analysts recently issued reports on FNBC shares. Zacks Investment Research cut shares of First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. FBR & Co reissued a “market perform” rating on shares of First NBC Bank Holding in a research note on Tuesday, September 6th. Keefe, Bruyette & Woods raised shares of First NBC Bank Holding from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $22.00 to $24.00 in a research note on Tuesday, August 23rd. Finally, TheStreet cut shares of First NBC Bank Holding from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Two research 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’s stock. First NBC Bank Holding currently has an average rating of “Hold” and an average target price of $20.50.

First NBC Bank Holding Company Profile

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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