Water Island Capital LLC Takes Position in FCB Financial Holdings Inc (FCB)

Water Island Capital LLC purchased a new stake in FCB Financial Holdings Inc (NYSE:FCB) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 235,443 shares of the bank’s stock, valued at approximately $11,160,000. Water Island Capital LLC owned 0.50% of FCB Financial as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in FCB Financial by 1.7% in the 3rd quarter. BlackRock Inc. now owns 3,233,637 shares of the bank’s stock valued at $153,274,000 after acquiring an additional 54,378 shares during the period. JPMorgan Chase & Co. raised its holdings in FCB Financial by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,291,055 shares of the bank’s stock valued at $61,197,000 after acquiring an additional 9,096 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in FCB Financial by 20.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,010,670 shares of the bank’s stock valued at $59,427,000 after acquiring an additional 173,130 shares during the period. Emerald Advisers Inc. PA raised its holdings in FCB Financial by 26.1% in the 2nd quarter. Emerald Advisers Inc. PA now owns 1,000,404 shares of the bank’s stock valued at $58,824,000 after acquiring an additional 206,870 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in FCB Financial by 3.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 879,961 shares of the bank’s stock valued at $51,742,000 after acquiring an additional 30,501 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FCB opened at $37.47 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.75 billion, a P/E ratio of 11.42, a PEG ratio of 0.60 and a beta of 1.35. FCB Financial Holdings Inc has a 1 year low of $37.14 and a 1 year high of $62.95.

FCB Financial (NYSE:FCB) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. The business had revenue of $101.40 million for the quarter, compared to analyst estimates of $104.71 million. FCB Financial had a net margin of 29.45% and a return on equity of 13.02%. During the same quarter last year, the business posted $0.74 EPS. Equities analysts expect that FCB Financial Holdings Inc will post 3.67 EPS for the current year.

Several research firms have weighed in on FCB. Zacks Investment Research raised shares of FCB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. TheStreet cut shares of FCB Financial from a “b-” rating to a “c+” rating in a report on Tuesday, November 20th. ValuEngine cut shares of FCB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $61.00 target price on shares of FCB Financial in a report on Wednesday, August 8th. Finally, Deutsche Bank cut shares of FCB Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $66.00 to $44.00 in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $55.50.

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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.

Further Reading: Fundamental Analysis

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Institutional Ownership by Quarter for FCB Financial (NYSE:FCB)

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