FCB Financial (FCB) Upgraded at Keefe, Bruyette & Woods

FCB Financial (NYSE:FCB) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, The Fly reports.

Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded FCB Financial from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Wednesday, August 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $57.00 price objective on shares of FCB Financial in a report on Wednesday, July 25th. ValuEngine upgraded FCB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Gabelli downgraded FCB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Deutsche Bank downgraded FCB Financial from a “buy” rating to a “hold” rating and dropped their price objective for the company from $66.00 to $44.00 in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.00.

FCB stock traded down $0.12 during mid-day trading on Thursday, reaching $39.63. The company had a trading volume of 563,300 shares, compared to its average volume of 395,974. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $1.86 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.64 and a beta of 1.35. FCB Financial has a fifty-two week low of $37.65 and a fifty-two week high of $62.95.

FCB Financial (NYSE:FCB) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. The company had revenue of $101.40 million for the quarter, compared to analyst estimates of $104.71 million. FCB Financial had a return on equity of 13.29% and a net margin of 29.45%. During the same quarter last year, the company earned $0.74 EPS. On average, analysts expect that FCB Financial will post 3.67 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCB. BlackRock Inc. increased its holdings in shares of FCB Financial by 23.6% in the 2nd quarter. BlackRock Inc. now owns 3,179,259 shares of the bank’s stock valued at $186,943,000 after acquiring an additional 606,744 shares during the last quarter. Emerald Advisers Inc. PA grew its stake in FCB Financial by 26.1% during the 2nd quarter. Emerald Advisers Inc. PA now owns 1,000,404 shares of the bank’s stock worth $58,824,000 after buying an additional 206,870 shares during the last quarter. OppenheimerFunds Inc. grew its stake in FCB Financial by 50.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 598,994 shares of the bank’s stock worth $35,222,000 after buying an additional 201,979 shares during the last quarter. Impax Asset Management LLC purchased a new position in FCB Financial during the 2nd quarter worth approximately $10,698,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in FCB Financial by 20.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,010,670 shares of the bank’s stock worth $59,427,000 after buying an additional 173,130 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

FCB Financial Company Profile

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

The Fly

Analyst Recommendations 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