FBR & Co Reaffirms “Market Perform” Rating for First NBC Bank Holding Company (FNBC)

FBR & Co Reaffirms “Market Perform” Rating for First NBC Bank Holding Company (FNBC)

FBR & Co reiterated their market perform rating on shares of First NBC Bank Holding Company (NASDAQ:FNBC) in a research note published on Friday morning. The brokerage currently has a $3.50 price target on the financial services provider’s stock.

Several other research firms have also weighed in on FNBC. Zacks Investment Research upgraded First NBC Bank Holding Company from a strong sell rating to a hold rating in a report on Thursday, January 5th. FIG Partners lowered First NBC Bank Holding Company from an outperform rating to a market perform rating in a report on Tuesday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $13.10.

Shares of First NBC Bank Holding Company (NASDAQ:FNBC) opened at 4.35 on Friday. The company’s market capitalization is $83.65 million. The stock has a 50 day moving average of $4.63 and a 200-day moving average of $7.50. First NBC Bank Holding Company has a 1-year low of $3.30 and a 1-year high of $25.26.

A number of hedge funds have recently added to or reduced their stakes in FNBC. AQR Capital Management LLC raised its stake in First NBC Bank Holding Company by 53.9% in the fourth quarter. AQR Capital Management LLC now owns 626,605 shares of the financial services provider’s stock worth $4,574,000 after buying an additional 219,464 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in First NBC Bank Holding Company during the fourth quarter worth $269,000. Bogle Investment Management L P DE acquired a new stake in First NBC Bank Holding Company during the fourth quarter worth $271,000. Federated Investors Inc. PA raised its stake in First NBC Bank Holding Company by 174.4% in the fourth quarter. Federated Investors Inc. PA now owns 240,602 shares of the financial services provider’s stock worth $1,756,000 after buying an additional 152,927 shares during the last quarter. Finally, Comerica Bank raised its stake in First NBC Bank Holding Company by 5.6% in the fourth quarter. Comerica Bank now owns 16,860 shares of the financial services provider’s stock worth $104,000 after buying an additional 898 shares during the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.

First NBC Bank Holding Company Company Profile

First NBC Bank Holding Company is a bank holding company. The Company offers a range of financial services through its banking subsidiary, First NBC Bank. The Company operates through community banking segment. It offers financial services to businesses, institutions and individuals in southeastern Louisiana and the Florida panhandle.

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