Water Island Capital LLC Buys 1,280,990 Shares of FCB Financial Holdings Inc (FCB)

Water Island Capital LLC raised its stake in shares of FCB Financial Holdings Inc (NYSE:FCB) by 544.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,516,433 shares of the bank’s stock after purchasing an additional 1,280,990 shares during the period. FCB Financial accounts for approximately 3.8% of Water Island Capital LLC’s investment portfolio, making the stock its 7th biggest position. Water Island Capital LLC owned approximately 3.24% of FCB Financial worth $50,922,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of FCB Financial in the 4th quarter worth about $27,697,000. Alpine Associates Management Inc. bought a new position in shares of FCB Financial in the 3rd quarter worth about $24,635,000. Neuberger Berman Group LLC raised its position in shares of FCB Financial by 61.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,362,113 shares of the bank’s stock worth $64,564,000 after acquiring an additional 516,313 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of FCB Financial by 42.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,082,070 shares of the bank’s stock worth $51,290,000 after acquiring an additional 325,093 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of FCB Financial by 26.3% in the 3rd quarter. Macquarie Group Ltd. now owns 795,296 shares of the bank’s stock worth $37,697,000 after acquiring an additional 165,485 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Shares of FCB traded down $0.10 during trading hours on Tuesday, hitting $33.58. The stock had a trading volume of 6,149,817 shares, compared to its average volume of 954,327. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.57 billion, a PE ratio of 10.24, a P/E/G ratio of 0.45 and a beta of 1.41. FCB Financial Holdings Inc has a 1-year low of $31.52 and a 1-year high of $62.95.

FCB has been the subject of several research analyst reports. Zacks Investment Research lowered FCB Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Keefe, Bruyette & Woods raised FCB Financial from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $61.00 to $58.00 in a research report on Thursday, November 8th. ValuEngine downgraded FCB Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, TheStreet downgraded FCB Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.60.

TRADEMARK VIOLATION WARNING: “Water Island Capital LLC Buys 1,280,990 Shares of FCB Financial Holdings Inc (FCB)” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://sportsperspectives.com/2019/02/12/water-island-capital-llc-buys-1280990-shares-of-fcb-financial-holdings-inc-fcb.html.

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.

Featured Article: What is a Derivative?

Institutional Ownership by Quarter for FCB Financial (NYSE:FCB)

Receive News & Ratings for FCB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FCB Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply