Today: Today: Zacks Investment Research lowers the Stock rating of FCB Financial Holdings Inc. (FCB)

Today: Zacks Investment Research lowers the Stock rating of FCB Financial Holdings Inc. (FCB)

FCB Financial Holdings Inc. (NYSE:FCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “FCB Financial Holdings Inc. is a bank holding company for Florida Community Bank. The Company, through its subsidiaries, operates community banks in Florida, United States. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities. FCB Financial Holdings Inc. is headquartered in Weston, Florida. “

FCB has been the subject of a number of other research reports. Hovde Group increased their price target on FCB Financial Holdings from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Deutsche Bank AG increased their price target on FCB Financial Holdings from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday, September 23rd. JPMorgan Chase & Co. reissued a “buy” rating on shares of FCB Financial Holdings in a report on Sunday, July 10th. Finally, TheStreet raised FCB Financial Holdings from a “hold” rating to a “buy” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.75.

FCB Financial Holdings (NYSE:FCB) opened at 37.46 on Thursday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 16.82 and a beta of 1.23. The firm has a 50 day moving average price of $38.25 and a 200 day moving average price of $35.76. FCB Financial Holdings has a 52 week low of $28.64 and a 52 week high of $39.44.

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

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of FCB Financial Holdings by 287.3% in the second quarter. JPMorgan Chase & Co. now owns 1,094,195 shares of the company’s stock worth $37,202,000 after buying an additional 811,677 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of FCB Financial Holdings during the second quarter worth $25,171,000. Waddell & Reed Financial Inc. bought a new stake in shares of FCB Financial Holdings during the second quarter worth $9,629,000. Dimensional Fund Advisors LP boosted its stake in shares of FCB Financial Holdings by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 639,122 shares of the company’s stock worth $21,730,000 after buying an additional 219,578 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of FCB Financial Holdings by 35.7% in the second quarter. American Century Companies Inc. now owns 792,468 shares of the company’s stock worth $26,944,000 after buying an additional 208,638 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

FCB Financial Holdings Company Profile

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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