TheStreet Lowers First NBC Bank Holding Co. (FNBC) to Sell

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First NBC Bank Holding Co. (NASDAQ:FNBC) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research report issued on Friday.
Other institutional investors have added to or reduced their stakes in the company. Springbok Capital Management LLC increased its position in First NBC Bank Holding by 206.4% in the first quarter. Springbok Capital Management LLC now owns 6,037 shares of the financial services provider’s stock valued at $124,000 after buying an additional 4,067 shares during the period. Wedge Capital Management L L P NC increased its position in First NBC Bank Holding by 14.6% in the second quarter. Wedge Capital Management L L P NC now owns 13,845 shares of the financial services provider’s stock valued at $232,000 after buying an additional 1,762 shares during the period. BlackRock Group LTD increased its position in First NBC Bank Holding by 18.6% in the first quarter. BlackRock Group LTD now owns 13,514 shares of the financial services provider’s stock valued at $278,000 after buying an additional 2,121 shares during the period. BB&T Securities LLC acquired a new position in First NBC Bank Holding during the first quarter valued at approximately $380,000. Finally, Renaissance Technologies LLC acquired a new position in First NBC Bank Holding during the first quarter valued at approximately $525,000.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of First NBC Bank Holding from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Keefe, Bruyette & Woods upgraded shares of First NBC Bank Holding from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $22.00 to $24.00 in a report on Tuesday, August 23rd. FBR & Co reiterated a “market perform” rating on shares of First NBC Bank Holding in a report on Tuesday. Finally, Hovde Group upgraded shares of First NBC Bank Holding from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.75.

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Shares of First NBC Bank Holding (NASDAQ:FNBC) traded down 7.00% during trading on Friday, reaching $11.95. 556,304 shares of the company traded hands. The company has a 50-day moving average of $15.30 and a 200-day moving average of $18.80. First NBC Bank Holding has a 12 month low of $11.36 and a 12 month high of $43.52. The stock’s market capitalization is $229.81 million.
First NBC Bank Holding Company is a bank holding company. The Company offers a range of financial services through its wholly owned banking subsidiary, First NBC Bank. It serves its customers located in the Central Business District of New Orleans and the Mississippi Gulf Coast. The Company’s primary focus is on commercial real estate and commercial lending.

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