M&R Capital Management Inc. boosted its position in shares of FCB Financial Holdings Inc (NYSE:FCB) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,925 shares of the bank’s stock after purchasing an additional 4,600 shares during the period. M&R Capital Management Inc. owned approximately 0.10% of FCB Financial worth $2,700,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in FCB Financial by 17.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 232,206 shares of the bank’s stock worth $13,654,000 after buying an additional 34,711 shares during the period. Russell Investments Group Ltd. increased its stake in FCB Financial by 484.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,068 shares of the bank’s stock worth $4,179,000 after buying an additional 58,918 shares during the period. Rhumbline Advisers increased its stake in FCB Financial by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 40,219 shares of the bank’s stock worth $2,365,000 after buying an additional 4,117 shares during the period. Signition LP purchased a new stake in FCB Financial during the 2nd quarter worth approximately $214,000. Finally, Engineers Gate Manager LP acquired a new position in FCB Financial during the 2nd quarter worth approximately $2,163,000. 91.53% of the stock is currently owned by institutional investors.
NYSE FCB opened at $52.45 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.64. FCB Financial Holdings Inc has a 52 week low of $39.90 and a 52 week high of $62.95. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.79 and a beta of 1.19.
FCB Financial (NYSE:FCB) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. FCB Financial had a net margin of 29.07% and a return on equity of 12.54%. The company had revenue of $98.77 million during the quarter, compared to analysts’ expectations of $99.74 million. During the same quarter in the previous year, the business posted $0.71 EPS. research analysts expect that FCB Financial Holdings Inc will post 3.69 EPS for the current fiscal year.
FCB has been the subject of several analyst reports. Gabelli cut shares of FCB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Deutsche Bank cut shares of FCB Financial from a “buy” rating to a “hold” rating and lowered their price target for the stock from $66.00 to $44.00 in a report on Monday, July 30th. ValuEngine upgraded shares of FCB Financial from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. Royal Bank of Canada reiterated a “buy” rating on shares of FCB Financial in a report on Thursday, April 26th. Finally, Zacks Investment Research upgraded shares of FCB Financial from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Monday, May 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.50.
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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