Todays Report: The State Board of Administration of Florida Retirement System invests in FCB Financial Holdings Inc. (FCB) Shares

The State Board of Administration of Florida Retirement System invests in FCB Financial Holdings Inc. (FCB) Shares

State Board of Administration of Florida Retirement System boosted its stake in shares of FCB Financial Holdings Inc. (NYSE:FCB) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 10,645 shares of the company’s stock after buying an additional 770 shares during the period. State Board of Administration of Florida Retirement System’s holdings in FCB Financial Holdings were worth $362,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Whittier Trust Co. boosted its position in shares of FCB Financial Holdings by 1.2% in the second quarter. Whittier Trust Co. now owns 25,386 shares of the company’s stock valued at $863,000 after buying an additional 308 shares during the period. Swiss National Bank boosted its position in shares of FCB Financial Holdings by 1.5% in the second quarter. Swiss National Bank now owns 55,400 shares of the company’s stock valued at $1,884,000 after buying an additional 800 shares during the period. Suntrust Banks Inc. boosted its position in shares of FCB Financial Holdings by 13.3% in the second quarter. Suntrust Banks Inc. now owns 7,886 shares of the company’s stock valued at $268,000 after buying an additional 925 shares during the period. Forward Management LLC boosted its position in shares of FCB Financial Holdings by 8.6% in the first quarter. Forward Management LLC now owns 24,348 shares of the company’s stock valued at $810,000 after buying an additional 1,918 shares during the period. Finally, Gabelli Funds LLC boosted its position in shares of FCB Financial Holdings by 2.3% in the second quarter. Gabelli Funds LLC now owns 90,600 shares of the company’s stock valued at $3,080,000 after buying an additional 2,000 shares during the period. Institutional investors own 89.53% of the company’s stock.

Shares of FCB Financial Holdings Inc. (NYSE:FCB) traded down 0.39% on Wednesday, hitting $37.85. The stock had a trading volume of 44,691 shares. The firm has a 50 day moving average price of $38.29 and a 200 day moving average price of $35.71. FCB Financial Holdings Inc. has a one year low of $28.64 and a one year high of $39.44. The company has a market capitalization of $1.54 billion, a P/E ratio of 17.00 and a beta of 1.23.

FCB Financial Holdings (NYSE:FCB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. FCB Financial Holdings had a net margin of 30.51% and a return on equity of 10.21%. On average, equities research analysts predict that FCB Financial Holdings Inc. will post $2.24 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut FCB Financial Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. TheStreet upgraded FCB Financial Holdings from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Deutsche Bank AG lifted their target price on FCB Financial Holdings from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. JPMorgan Chase & Co. restated a “buy” rating on shares of FCB Financial Holdings in a report on Sunday, July 10th. Finally, Hovde Group lifted their target price on FCB Financial Holdings from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. Eight equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $41.75.

In related news, insider Stuart I. Oran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $38.74, for a total value of $387,400.00. Following the completion of the sale, the insider now directly owns 15,104 shares in the company, valued at approximately $585,128.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Novelly sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $36.93, for a total transaction of $1,846,500.00. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.

About FCB Financial Holdings

FCB Financial Holdings, Inc is a bank holding company with one 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. The Company provides a range of financial products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through approximately 50 branches in south and central Florida.

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