FCB Financial (FCB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of FCB Financial (NYSE:FCB) from a sell rating to a hold rating in a report issued on Monday morning.

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. “

A number of other analysts also recently issued reports on FCB. ValuEngine raised FCB Financial from a sell rating to a hold rating in a research report on Wednesday, August 15th. Keefe, Bruyette & Woods raised FCB Financial from a market perform rating to an outperform rating and lowered their target price for the company from $61.00 to $58.00 in a research report on Thursday, November 8th. Finally, TheStreet downgraded FCB Financial from a b- rating to a c+ rating in a research report on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $55.50.

FCB opened at $35.79 on Monday. FCB Financial has a 1 year low of $35.25 and a 1 year high of $62.95. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 0.93.

FCB Financial (NYSE:FCB) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. FCB Financial had a return on equity of 13.02% and a net margin of 29.45%. The firm had revenue of $101.40 million for the quarter, compared to the consensus estimate of $104.71 million. During the same quarter last year, the business posted $0.74 EPS. On average, analysts expect that FCB Financial will post 3.67 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its position in FCB Financial by 8.5% during the second quarter. Swiss National Bank now owns 77,900 shares of the bank’s stock worth $4,581,000 after buying an additional 6,100 shares during the last quarter. Renaissance Technologies LLC increased its position in FCB Financial by 205.0% during the second quarter. Renaissance Technologies LLC now owns 103,851 shares of the bank’s stock worth $6,106,000 after buying an additional 69,799 shares during the last quarter. Nomura Holdings Inc. acquired a new position in FCB Financial during the second quarter worth approximately $234,000. Gamco Investors INC. ET AL increased its position in FCB Financial by 29.0% during the third quarter. Gamco Investors INC. ET AL now owns 224,770 shares of the bank’s stock worth $10,654,000 after buying an additional 50,479 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in FCB Financial during the second quarter worth approximately $546,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

About FCB Financial

FCB Financial Holdings, Inc operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida. The company offers various deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificates of deposit; checking products; and money market accounts and IRAs.

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