FCB Financial Holdings Inc (FCB): Are Hedge Funds Right About This Stock?

Because FCB Financial Holdings Inc (NYSE:FCB) has faced bearish sentiment from the smart money, it’s easy to see that there was a specific group of fund managers who sold off their full holdings by the end of the third quarter. At the top of the heap, Leon Cooperman’s Omega Advisors dropped the largest stake of the 700 funds followed by Insider Monkey, comprising close to $17.9 million in stock. Bernard Selz’s fund, Selz Capital, also said goodbye to its stock, about $1.2 million worth. These transactions are interesting, as total hedge fund interest fell by 2 funds by the end of the third quarter.

Let’s now review hedge fund activity in other stocks similar to FCB Financial Holdings Inc (NYSE:FCB). We will take a look at Flagstar Bancorp Inc (NYSE:FBC), Consolidated Communications Holdings Inc (NASDAQ:CNSL), Ship Finance International Limited (NYSE:SFL), and Air Methods Corp (NASDAQ:AIRM). This group of stocks’ market values are similar to FCB’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FBC 10 66963 -3
CNSL 6 3368 0
SFL 8 47949 -5
AIRM 17 103359 2

As you can see these stocks had an average of 10.25 hedge funds with bullish positions and the average amount invested in these stocks was $55 million. That figure was $128 million in FCB’s case. Air Methods Corp (NASDAQ:AIRM) is the most popular stock in this table. On the other hand Consolidated Communications Holdings Inc (NASDAQ:CNSL) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks FCB Financial Holdings Inc (NYSE:FCB) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None