FCB Financial Holdings, Inc. (FCB) Short Interest Up 49.4% in September

FCB Financial Holdings, Inc. (NYSE:FCB) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,354,597 shares, an increase of 49.4% from the August 31st total of 906,732 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average daily volume of 255,408 shares, the short-interest ratio is currently 5.3 days.

Shares of FCB Financial Holdings (FCB) opened at 49.00 on Friday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.08 and a beta of 1.34. FCB Financial Holdings has a one year low of $35.55 and a one year high of $50.33. The firm has a 50-day moving average of $44.86 and a 200 day moving average of $46.63.

FCB Financial Holdings (NYSE:FCB) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $83.47 million. FCB Financial Holdings had a net margin of 33.95% and a return on equity of 11.11%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. On average, equities research analysts predict that FCB Financial Holdings will post $2.76 EPS for the current year.

In other news, insider Les J. Lieberman sold 3,802 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $48.27, for a total transaction of $183,522.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Les J. Lieberman sold 60,388 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $47.19, for a total transaction of $2,849,709.72. Following the sale, the insider now owns 400,995 shares of the company’s stock, valued at $18,922,954.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 887,518 shares of company stock valued at $40,792,710. 15.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in FCB Financial Holdings by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,089,371 shares of the bank’s stock worth $147,518,000 after acquiring an additional 262,969 shares in the last quarter. BlackRock Inc. grew its stake in FCB Financial Holdings by 6.8% in the 2nd quarter. BlackRock Inc. now owns 2,405,513 shares of the bank’s stock worth $114,862,000 after acquiring an additional 153,627 shares in the last quarter. Wellington Management Group LLP grew its stake in FCB Financial Holdings by 66.6% in the 1st quarter. Wellington Management Group LLP now owns 1,606,383 shares of the bank’s stock worth $79,596,000 after acquiring an additional 641,937 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in FCB Financial Holdings by 12.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,283,526 shares of the bank’s stock worth $61,289,000 after acquiring an additional 137,471 shares in the last quarter. Finally, State Street Corp grew its stake in FCB Financial Holdings by 26.1% in the 1st quarter. State Street Corp now owns 1,090,544 shares of the bank’s stock worth $54,036,000 after acquiring an additional 226,033 shares in the last quarter. Institutional investors and hedge funds own 94.00% of the company’s stock.

FCB has been the subject of a number of analyst reports. Royal Bank Of Canada initiated coverage on shares of FCB Financial Holdings in a report on Monday, July 17th. They set an “outperform” rating and a $56.00 target price for the company. Zacks Investment Research upgraded shares of FCB Financial Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub lowered shares of FCB Financial Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 target price on shares of FCB Financial Holdings in a report on Tuesday, October 3rd. Finally, ValuEngine lowered shares of FCB Financial Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.40.

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About FCB Financial Holdings

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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