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Earnings Review and Free Research Report: FCB Financial’s Q3 Bottom-line Rose 26% to Outperform Forecast

Research Desk Line-up: Auburn National Bancorp. Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 9, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on FCB Financial Holdings, Inc. (NASDAQ: FCB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FCB, following the Company's release of its financial results on October 24, 2017, for the third quarter fiscal 2017 (Q3 FY17). The Weston, Florida-based Company's adjusted diluted EPS grew 26% y-o-y, beating market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:


Get more of our free earnings reports coverage from other constituents of the Regional - Southeast Banks industry. Pro-TD has currently selected Auburn National Bancorporation, Inc. (NASDAQ: AUBN) for due-diligence and potential coverage as the Company reported on October 24, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Auburn National Bancorp. when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FCB; also brushing on AUBN. With the links below you can directly download the report of your stock of interest free of charge at:



Earnings Reviewed

During Q3 FY17, FCB Financial's total interest income came in at $96.82 million compared to $80.80 million in the year-ago comparable quarter. Total interest expenses for the reported quarter was $21.04 million versus $13.52 million in the Q3 FY16. The Company's net interest income increased during Q3 FY17 to $75.78 million, from $67.28 million in the last year's comparable quarter. The Company's non-interest income came in at $8.43 million in Q3 FY17 compared to $8.14 million in Q3 FY16. Furthermore, the Company's total noninterest expense was $35.24 million in Q3 FY17 versus $33.04 million in Q3 FY16.

The bank holding company reported net income of $32.16 million, or $0.70 per diluted share, in Q3 FY17 compared to $26.06 million, or $0.60 per diluted share, in Q3 FY16. The Company's adjusted net income also increased to $34.19 million, or $0.74 per diluted, in Q3 FY17 from $25.38 million in the last year's comparable quarter. Meanwhile, Wall Street had expected the Company to report net income of $0.69 per diluted.

Earnings Metrics

During the reported quarter, return on average equity was 11.21%, which were 25 basis points above the 10.96% reported in the year-ago same period. Adjusted return on average assets for Q3 FY17 stood at 1.36%, compared to 1.22% in Q3 FY16. Moreover, the Company's adjusted efficiency ratio came in at 40.58% for Q3 FY17 compared to 42.75% in Q3 FY16.

Net interest margin in the reported quarter was 3.17% compared to 3.44% in Q3 FY16. As on September 30, 2017, the Company's common equity tier 1 ratio was 10.6% as on September 30, 2017, compared to 10.3% as on September 30, 2016. Furthermore, the total risk-weighted capital ratio stood at 12.7% as on September 30, 2017, versus 12.0% as on September 30, 2016.

Balance Sheet Analyzed

FCB Financial's average total assets were $9.97 billion in the quarter ended September 30, 2017, compared to $8.25 billion during Q3 FY16. The Company's new loan portfolio as on September 30, 2017, stood $6.98 billion, compared to $5.60 billion at the end of Q3 FY16.

Total interest-earning assets increased to $9.50 billion in Q3 FY17 from $7.76 billion in the previous year's quarter. In Q3 FY17, yield on total interest-earning assets was 3.99% versus 4.09% in Q3 FY16. Furthermore, the net interest spread was 2.90% during third quarter of FY17 compared to 3.26% in Q3 FY16.

The Company tangible book value per share increased to $24.49 as on September 30, 2017, from $21.51 as on September 30, 2016. Additionally, non-performing assets to total assets ratio improved to 0.38% at the end of Q3 FY17 from 0.50% at the close of prior year's comparable quarter.

Stock Performance

At the closing bell, on Wednesday, November 08, 2017, FCB Financial's stock marginally dropped 0.75%, ending the trading session at $46.50. A total volume of 235.14 thousand shares have exchanged hands, which was higher than the 3-month average volume of 228.81 thousand shares. The Company's stock price surged 5.08% in the last three months and 27.22% in the previous twelve months. The stock is trading at a PE ratio of 15.76 and currently has a market cap of $2.00 billion.

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SOURCE: Pro-Trader Daily