FCB Financial (NYSE:FCB) Cut to Sell at ValuEngine

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FCB Financial (NYSE:FCB) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, September 17th.

FCB has been the subject of several other research reports. UBS Group upgraded FCB Financial from a “sell” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $54.00 in a research note on Thursday, July 26th. Royal Bank of Canada restated a “buy” rating and set a $57.00 price target on shares of FCB Financial in a research note on Wednesday, July 25th. Zacks Investment Research upgraded FCB Financial from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, August 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $61.00 price target on shares of FCB Financial in a research note on Wednesday, August 8th. Finally, Deutsche Bank cut FCB Financial from a “buy” rating to a “hold” rating and cut their price target for the stock from $66.00 to $44.00 in a research note on Monday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.00.

NYSE FCB traded down $0.75 on Monday, reaching $44.18. The stock had a trading volume of 561,059 shares, compared to its average volume of 377,515. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.64. FCB Financial has a 12-month low of $43.20 and a 12-month high of $62.95. The stock has a market cap of $2.22 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.73 and a beta of 1.18.

FCB Financial (NYSE:FCB) last issued its quarterly earnings data on Tuesday, July 24th. The bank reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. FCB Financial had a return on equity of 12.54% and a net margin of 29.07%. 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 earned $0.71 earnings per share. As a group, research analysts predict that FCB Financial will post 3.69 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in FCB Financial by 23.6% during the second quarter. BlackRock Inc. now owns 3,179,259 shares of the bank’s stock worth $186,943,000 after acquiring an additional 606,744 shares during the period. Dimensional Fund Advisors LP grew its holdings in FCB Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,593,539 shares of the bank’s stock worth $81,430,000 after acquiring an additional 27,919 shares during the period. JPMorgan Chase & Co. grew its holdings in FCB Financial by 1.3% during the first quarter. JPMorgan Chase & Co. now owns 1,333,153 shares of the bank’s stock worth $68,124,000 after acquiring an additional 17,473 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in FCB Financial by 20.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,010,670 shares of the bank’s stock worth $59,427,000 after acquiring an additional 173,130 shares during the period. Finally, Emerald Advisers Inc. PA grew its holdings in FCB Financial by 26.1% during the second quarter. Emerald Advisers Inc. PA now owns 1,000,404 shares of the bank’s stock worth $58,824,000 after acquiring an additional 206,870 shares during the period. Institutional investors and hedge funds own 92.49% of the company’s stock.

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.

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