FCB Financial (FCB) Downgraded by TheStreet to C+

TheStreet lowered shares of FCB Financial (NYSE:FCB) from a b- rating to a c+ rating in a report released on Tuesday.

Several other research firms have also recently weighed in on FCB. Zacks Investment Research raised FCB Financial from a sell rating to a hold rating in a research report on Tuesday. Keefe, Bruyette & Woods raised FCB Financial from a market perform rating to an outperform rating and reduced their price objective for the company from $61.00 to $58.00 in a research report on Thursday, November 8th. ValuEngine cut FCB Financial from a hold rating to a sell rating in a research report on Monday, September 17th. UBS Group raised FCB Financial from a sell rating to a neutral rating and raised their target price for the stock from $50.00 to $54.00 in a research report on Thursday, July 26th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $57.00 target price on shares of FCB Financial in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $55.50.

FCB opened at $37.86 on Tuesday. FCB Financial has a 1-year low of $37.14 and a 1-year high of $62.95. 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 capitalization of $1.76 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.35.

FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.97 earnings per share for the quarter, beating the 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 company had revenue of $101.40 million during the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the prior year, the business earned $0.74 earnings per share. As a group, sell-side analysts predict that FCB Financial will post 3.67 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its position in FCB Financial by 78.7% in the third quarter. Morgan Stanley now owns 177,816 shares of the bank’s stock worth $8,428,000 after purchasing an additional 78,313 shares during the period. Legal & General Group Plc lifted its position in FCB Financial by 32.0% in the third quarter. Legal & General Group Plc now owns 17,771 shares of the bank’s stock worth $842,000 after purchasing an additional 4,305 shares during the period. Teachers Advisors LLC lifted its position in FCB Financial by 0.7% in the third quarter. Teachers Advisors LLC now owns 436,355 shares of the bank’s stock worth $20,683,000 after purchasing an additional 2,902 shares during the period. Neuberger Berman Group LLC lifted its position in FCB Financial by 61.0% in the third quarter. Neuberger Berman Group LLC now owns 1,362,113 shares of the bank’s stock worth $64,564,000 after purchasing an additional 516,313 shares during the period. Finally, Macquarie Group Ltd. lifted its position in FCB Financial by 26.3% in the third quarter. Macquarie Group Ltd. now owns 795,296 shares of the bank’s stock worth $37,697,000 after purchasing an additional 165,485 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for FCB Financial (NYSE:FCB)

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