Todays Report: Today, First NBC Bank Holding Co. (FNBC) Stake Raised by Nationwide Fund Advisors

Today, First NBC Bank Holding Co. (FNBC) Stake Raised by Nationwide Fund Advisors

Nationwide Fund Advisors increased its stake in First NBC Bank Holding Co. (NASDAQ:FNBC) by 38.0% during the second quarter, Holdings Channel reports. The firm owned 95,554 shares of the financial services provider’s stock after buying an additional 26,301 shares during the period. Nationwide Fund Advisors owned about 0.50% of First NBC Bank Holding worth $1,604,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in First NBC Bank Holding by 21.9% in the first quarter. Prudential Financial Inc. now owns 346,197 shares of the financial services provider’s stock valued at $7,128,000 after buying an additional 62,260 shares during the last quarter. JPMorgan Chase & Co. increased its stake in First NBC Bank Holding by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 310,725 shares of the financial services provider’s stock valued at $6,398,000 after buying an additional 122,750 shares during the last quarter. BB&T Securities LLC acquired a new stake in First NBC Bank Holding during the first quarter valued at about $380,000. Lazard Asset Management LLC acquired a new stake in First NBC Bank Holding during the first quarter valued at about $2,271,000. Finally, Bogle Investment Management L P DE acquired a new stake in First NBC Bank Holding during the first quarter valued at about $655,000. 79.43% of the stock is owned by institutional investors.

First NBC Bank Holding Co. (NASDAQ:FNBC) opened at 10.80 on Monday. The company’s market capitalization is $207.69 million. First NBC Bank Holding Co. has a 52 week low of $9.09 and a 52 week high of $43.52. The firm’s 50-day moving average price is $11.21 and its 200 day moving average price is $16.39.

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