FCB Financial (FCB) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of FCB Financial (NYSE:FCB) from a hold rating to a sell rating in a report published on Tuesday 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. “

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Several other research firms have also recently commented on FCB. Royal Bank of Canada reaffirmed a buy rating and issued a $61.00 price objective on shares of FCB Financial in a research report on Wednesday, January 24th. Bank of America boosted their price objective on shares of FCB Financial from $60.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. FCB Financial presently has an average rating of Hold and an average target price of $59.20.

Shares of FCB Financial (NYSE:FCB) opened at $56.10 on Tuesday. The company has a market cap of $2,529.13, a price-to-earnings ratio of 20.55, a P/E/G ratio of 0.87 and a beta of 1.32. FCB Financial has a 52-week low of $39.90 and a 52-week high of $57.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.93 and a quick ratio of 0.93.

FCB Financial (NYSE:FCB) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $85.85 million for the quarter, compared to analysts’ expectations of $88.53 million. FCB Financial had a net margin of 30.60% and a return on equity of 11.64%. During the same period in the previous year, the firm posted $0.62 EPS. equities analysts predict that FCB Financial will post 3.59 earnings per share for the current fiscal year.

In related news, insider Les J. Lieberman sold 147,159 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $57.25, for a total value of $8,424,852.75. Following the sale, the insider now directly owns 315,356 shares of the company’s stock, valued at approximately $18,054,131. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kent S. Ellert sold 21,920 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $51.02, for a total transaction of $1,118,358.40. Following the completion of the sale, the chief executive officer now directly owns 173,252 shares in the company, valued at $8,839,317.04. The disclosure for this sale can be found here. Insiders sold a total of 657,067 shares of company stock worth $35,684,272 over the last ninety days. 15.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of FCB. Macquarie Group Ltd. increased its stake in FCB Financial by 159.3% in the 3rd quarter. Macquarie Group Ltd. now owns 506,892 shares of the bank’s stock valued at $24,483,000 after buying an additional 311,406 shares during the last quarter. Victory Capital Management Inc. increased its stake in FCB Financial by 5,419.6% in the 4th quarter. Victory Capital Management Inc. now owns 301,592 shares of the bank’s stock valued at $15,321,000 after buying an additional 296,128 shares during the last quarter. Chartwell Investment Partners LLC acquired a new stake in FCB Financial in the 3rd quarter valued at $11,094,000. Dimensional Fund Advisors LP increased its stake in FCB Financial by 13.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,457,037 shares of the bank’s stock valued at $70,374,000 after buying an additional 173,511 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA acquired a new stake in FCB Financial in the 4th quarter valued at $8,636,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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About FCB Financial

FCB Financial Holdings, Inc is a bank holding company with a national bank subsidiary, Florida Community Bank, National Association (the Bank). The Company operates in the Community Banking segment. Through the Bank, the Company provides a range of retail and commercial banking services. As of December 31, 2016, the Company provided a range of financial products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through 46 branches in south and central Florida.

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